Hello! My real estate partners and I are breaking into the larger multifamily space after transitioning from small multifamily deals. We're currently in best and final for a sweet 100 unit real estate syndication acquisition deal in Texas but have run into a road block with bridge-> agency debt financing as our net worth is just shy of the requirements to secure the bridge loan. In cases like this, what creative financing options are available to meet this gap amd structure the deal? Hard money? Partnership for guarantorship? What else? I'd appreciate any feedback from experienced investors. Thank you!
Key Principal. Talk to your lender.
@Jason Bailey you need to strengthen your team by bringing in a loan sponsor that has the required net worth and liquidity. In exchange, the loan sponsor will want to be paid and most likely want a piece of the deal or a fee.
Thank you, Greg! Just contacted my lender inquiring about that. We'll see how it goes. If you know of any other ways to establish relationships with key principals, any advice will be much appreciated.
Thank you, again!
Thanks, Brian! Yes, we're working on expanding our key principal base. We have several contacts that are currently locked in their own deals, so timing of our deal has been a factor here. And, yes, we would definitely offer an attractive piece of the deal for guarantorship help, as that would be an expected fee for their help and assumed risk. Appreciate the advice!