Commercial Loan Estimates When Running Multifamily Numbers
Hello BP Family,
How do you all determine numbers for a commercial mortgage when estimating if a property if worth purchasing? Below are numbers I have (50% rule), the main concern is how to get accurate estimates (that sounded like an oxymoron) for the commercial mortgage. Is 30% down a standard down payment for commercial properties.
Listing Price: $395,000
Type: 6-Unit Multi-family
Location: Tennessee
Gross Monthly Rents: $600/unit
Annual NOI: $21,600
Down Payment: $118,500
Rehab: $50,000
Closing Costs: $10,000
Total Cash Investment: $178,500