Updated over 6 years ago on . Most recent reply
Buying my first apartment complex
I’m looking to buy an apartment complex in the 3m dollar range. I don’t have the 20% most bank ask for so I was thing of going to a hard money lender to give me 600,000 loan and the rest from the bank. And thought and suggestion?
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Mike Dymski
#2 Market Trends & Data Contributor
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- Greenville, SC
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Mike Dymski
#2 Market Trends & Data Contributor
Pro Member
#2 Market Trends & Data Contributor
- Investor
- Greenville, SC
The bank wants you to have skin the game...and a HML won't want a 2nd position on a 100% financed property. 2007 is a bad memory.