Updated about 2 months ago on . Most recent reply
Multi property portfolio loan
Hi there - I'm a fairly experienced investor in Western NY and have amassed 140 units with 4 entities across 21 properties. These vary from 1-4 family and small multi (21-unit being the largest) as well as 2 small commercial units tied with one of the 10-unit MFH properties. The total value of these is roughly around $12M and total outstanding balance is roughly $7M. I am looking to kick tires a bit for a lender that would be interested in lending $9-9.5M against the entire portfolio; ideally 30 year amortization and 10 year interest only. NOI at the moment is $870,000.
Would love to be pointed in the right direction. Thanks in advance!