@Andy Mackey most of the loans I have been shopped over the past few years for multifamily have been 25 year amortization/5 year term loans. My loans have all been in the Chicago area or in South Bend, IN, but I am guessing thy would be similar to what you are looking at in KC. If your deals are over $1,000,000 there are some additional options though as they can almost qualify for agency debt. I know the threshold is right around 1 million to qualify.
If I were in your shoes, I would speak to some local banks and see if you could line up some type of sweet heart financing that you could offer with the deals.
Good stuff John- Let me know in the mean time if you have any investors that might be interested. Your comments were spot on. Much appreciated.
Last question - do you find most banks require occupancy, i.e. 50-75%. My local 4 Plex lender will do 25-50% occupancy and some investors qualify with no income.
Well Fargo bank now will lend up to 1 millions dollar with 20% down and fix term up to 30 years. Worth to check them out,They usually have higher interest.
otherwise most mortgage broker will do Amortize 20-25 year and 5 year term with lower interest .