Skip to content
Multi-Family and Apartment Investing

User Stats

72
Posts
48
Votes
David Boroughes
  • Rental Property Investor
  • Newport, RI
48
Votes |
72
Posts

Financing question. Loan type?

David Boroughes
  • Rental Property Investor
  • Newport, RI
Posted Dec 4 2017, 06:58

Looking to finance 75% of $1,000,000 for a 12 unit apartment complex which grosses $110K, expenses are $40,000, so NOI $70,000 (not including debt service). I'd be purchasing as an LLC and am looking to have the property basically qualify itself, meaning I don't want my debt/income ratio to factor in (because I would not qualify based on high debt to income ratio), have great credit and own multiple apartments and houses with nice net worth, also I have 25% to put down. What types of financing could work here? Ideally, I'd like a long term arrangement, around no more than 5.5%

Loading replies...