Weird post but I am putting together a proposal and need some information on some markets that I am not currently in and need the info fairly quickly. If the proposal goes THROUGH (presentation next Thursday), I will need a local commercial lender in all of the markets: Des Moines, Philadelphia, Buffalo, Baltimore, Providence...
The questions I need answered for each of those market are:
Question to ask the Commercial Lender
1) what is multi-family real estate market in your region? more or less units coming on line
2) what does a multi-family building cost in your area per unit(transitional community)
3) how is the labor force in your community i.e construction workers
4) is there a need for affordable housing in you community
5) is it a good time to invest in multi-family housing in your community?
Any help would be greatly appreciated and if the proposal goes through I would love to have conversations about helping find sites in those markets quickly (approximately would be 50ish unit acq/rehab)
Hi, @Benjamin Holt .
@Tim Wright and I know of a commercial lender - Luana Savings Bank, HQ-ed in Luana, Iowa with offices in the Des Moines (DSM) metro. They do ag / residential / commercial lending mainly in the Iowa/Midwest area and might be helpful to you. www.luanasavingsbank.com
I spoke to Brandon Converse, who is currently works with Tim and I can say he's been great to chat with so far, and Tim can vouch for that since he works with him on a current project in DSM.
I'll DM you his info if you're interested.
Thanks. - BH
Hi @Benjamin Holt feel free to DM me with any question of my experience with them