can anyone help me with a funding source, not hard money, maybe an investor group or similar organization or even a local bank.... I own several Duplexes and they are cash flowing but I just can't get ahead enough to be able to buy that 5plus multifamily unit. Really looking to be at 10 plus to really make the passive income we require. Just need help in buying it .. Thanks..please email any advice to: [email protected]
Talk for Four Oaks bank in Sanford. Have you done traditional financing and have hit your limit? Not quite sure where you are hitting resistance... if your business is good, Four Oaks Bank should be worth considering.
Yea, we hit our limit on traditional lending. Four Oaks , First Bank , PNC just aren't willing to stretch my limits..
What we may need is a private lender.. I mean the apartment complex we are looking at would support the debt with ease, just need to show the numbers..
@Frank Galiastro ...can you provide more general information on your deal? I might be able to help, depending on your particulars or at least point you in the right direction. I'm also unclear as to what you mean by hitting your traditional limit for lending. At 5+ units, you're in commercial territory, so amount of loans shouldn't even be an issue unless your global DTI is weak, but it doesn't sound like it.
Jared Rine, UWL | 2094810514
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!