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Updated over 3 years ago on . Most recent reply

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Cassie D Wright
  • New to Real Estate
  • Southern Illinois
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Need suggestions on lenders..

Cassie D Wright
  • New to Real Estate
  • Southern Illinois
Posted

I bought an 8 plex apartment building and financed with a local bank for 15 years just so I could acquire it ($105,000).  Three apartments need major rehab and I would like to do the whole building inside and out.  I want the tenants to be proud of where they live and I want to airbnb a couple of units also.  I have started rehab on two of the apartments but am using up all of my money. It would take apx $120,000-150,000 to complete all of it.  I would like to be able to finance it for 30 years after completion. Does anyone have lenders they have worked with that they would recommend? Property is in Southern Illinois.

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Zach Lemaster
#2 Out of State Investing Contributor
  • Rental Property Investor
  • Denver, CO
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Zach Lemaster
#2 Out of State Investing Contributor
  • Rental Property Investor
  • Denver, CO
Replied

@Cassie D Wright

Have you been in touch with Aloha to explore their loan options?  I highly recommend them as they are an outstanding lending team we have used on many similar projects.  @Kevin Hill

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