I met an interesting individual who invests in multi-family. Very generous with his time. For the longest time I couldn't figure out how to get started, take any action. I'm taking action today, right now, in trying to help him find a lender for a 27-unit, 100% occupied property in Oklahoma. I want to prove to this individual that his time will not be wasted and let 'my' actions do the talking. The more people I serve, the more effective I become- R. Buckminster Fuller.Any help? lenders?
What is the purchase price?
Conor, thank you for your time. 360k to close the deal.
@Roberto Escapita Jr - Feel free to reach out to me. I'd be happy to look at what you have and see if I can help. Thanks
Roberto: I own a debt and equity firm that arranges financing for commercial and multifamily real estate across the country. I would be glad to assist. Send me a PM or colleague request to discuss further.
$360k for 27 units? I'd suggest calling a community bank or CU near the property.
Thank you Carlos!
@Richard Copeland Just sent you a colleague request.
That sounds like an unusually low price for 27 units with no vacancies. Is there something else to know about the property? Does it need renovation? Is it rural or in an urban area? With some added details you can narrow your search to a short list of channels for funding, maybe a particular type of lender.
Thank you @Brent Myotte , my mentor will close out the deal with his plan tomorrow.
The loan amount is the realm of local banks/credit unions. They can offer good terms with low closing costs. Some of the players in the small balance world are Wells and Chase so see if there is one of those local to the property.
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