Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

21
Posts
11
Votes
Dean B.
  • Investor
  • Petaluma, CA
11
Votes |
21
Posts

Commercial lending options

Dean B.
  • Investor
  • Petaluma, CA
Posted

Greetings bp!

we are in the process of acquiring multiple multifamily portfolios as we have a significant 1031 exchange amount. We are already 10 units in and are in contract for another 27 spread across multiple States, mostly California and texas.

my question for all of you is if you have any recommended lenders for multifamily or apartment complex commercial loans. And also ones that can get under 60 days closing. These seem to be two very challenging challenging criteria to find.  We are seeing quotes in the mid-fours but closing at 75 plus days through private lending versus credit Union or Bank lending with less favorable rates. Do any of you represent any funding entities or know of any that would be great for commercial loans? We have solid capital liquidity as well as cash flowing properties at this time.

thank you so much as always for taking the time to read this and responding if you do.

Most Popular Reply

User Stats

38
Posts
14
Votes
Ethan Wagner
  • Financial Advisor
  • Philadelphia, PA
14
Votes |
38
Posts
Ethan Wagner
  • Financial Advisor
  • Philadelphia, PA
Replied

@Dean B. For multifamily you're gonna get the highest leverage at the lowest rate from the agencies. I closed a deal with them in 60 days. As long as there are no nuances such as historic tax credits or anything like that the 60 day target should be achievable.

Feel free to PM me if you have any further questions.

Cheers.

Loading replies...