refinancing student housing
hi BP!
i have a chance to invest in student housing but when i talked to my lander he said that they can't do refinancing on SH.....
can you really refinance that? if you do what are the terms?
thank you for your help
Not sure I completely understand your question. Are you looking to purchase a property and rent it out to students near a university? Can you please explain a little more of what exactly you are trying to do?
Quote from @Lorenzo Prieto:
Not sure I completely understand your question. Are you looking to purchase a property and rent it out to students near a university? Can you please explain a little more of what exactly you are trying to do?
purchasing Multi Family property with a cash ,rent it out to students and then i want finance it so i can pull the money out....
Quote from @Alexei Semenov:
Quote from @Lorenzo Prieto:
Not sure I completely understand your question. Are you looking to purchase a property and rent it out to students near a university? Can you please explain a little more of what exactly you are trying to do?
purchasing Multi Family property with a cash ,rent it out to students and then i want finance it so i can pull the money out....
I get it now. I'll shoot you a quick DM.
Hi Alexi, I have loans on my student rentals both conventional and commercial, and nobody had a problem with students. Each lender writes their own rules as to what risks they're willing to take on. I would contact local lenders in Tallahassee to find out who will finance student housing in that area.
-
Real Estate Agent OH (#SAL.2020001438)
- Podcast Guest on Show #380
Quote from @Dave Poeppelmeier:
Hi Alexi, I have loans on my student rentals both conventional and commercial, and nobody had a problem with students. Each lender writes their own rules as to what risks they're willing to take on. I would contact local lenders in Tallahassee to find out who will finance student housing in that area.
Thank you Dave!
Quote from @Alexei Semenov:
hi BP!
i have a chance to invest in student housing but when i talked to my lander he said that they can't do refinancing on SH.....
can you really refinance that? if you do what are the terms?
thank you for your help
You can absolutely get the SH refinanced. If your current lender can't do it, then just talk to some other commercial bankers. You will come across several of them that will have different options for you.
Quote from @Alexei Semenov:
hi BP!
i have a chance to invest in student housing but when i talked to my lander he said that they can't do refinancing on SH.....
can you really refinance that? if you do what are the terms?
thank you for your help
It sounds like you need to find a new lender. There are so many out there. I would call around until you find someone who can lend on that.