Updated over 11 years ago on . Most recent reply
Funding expansion under LLC
Where do I find 90% LTV funding for putting all my properties into an LLC while purchasing a larger property? The opportunity's numbers are great for my long term buy and hold, just don't know where to find the private money funding. Not looking for 'hard money', knowing how banks 'value' properties, I am not too fond of that route either.
Deal is a SFR, 12 unit apartment mini-complex, a 14 unit mini-complex with coin op laundry. $772,000 funding needed. Value is $863,000.
30 year mortgage at 5%: $49,732; NOI: $70,862; DSCR: 1.42
DSCR without yearly reserves and budgeted repairs holdings: 1.79.
Assumptions are with 85% occupancy, no increase in rent, and I don't know where else to go for brutally honest opinions.