Hi everyone! I am now getting deals from brokers and Ive got a property management team on board. I am currently looking for an apartment complexes to purchase here in Midmichigan. How do I look for funding? I googled mortgage broker, but that was no help! Is any one willing to give advice as I go through the process?
Welcome to BP
Akachi...Buck Joffrey here. I'ma also a physician/syndicator. What kind of funding are you talking about? How big are the deals? The answer is...it depends. Are you looking for non-recourse financing? Deal needs to be big enough for that--at least 2 million I would say to make it worth while. Smaller deals (under 1 million) that are being personally guaranteed by you might need to go through a local bank rather than Fannie Freddie. Are you putting the downpayment in yourself or are you raising money? Give us some more details and I'm sure many of us can steer you in the right direction.
What management company are you using. I'm buying a rental in Flint and looking for a good PM
@Akachi Azubuike welcome to the site! There are a ton of great lenders on this site. Also a ton of great information on here.
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