Financing 25 unit complex

[David Wasiloski]

I found a 25 unit property in Louisiana that cash flows well but it needs some updating.  Asking 1.2mil.  I can cover 20% down but is anyone aware of a product/lender where I can put down 15% or 10%?  I would prefer to put less down and start cleaning up this property right away.   I don’t have all the answered but I’m here and open to ideas……

Owner financing is not an option.  I don’t own any like properties but have been a landlord for the last 10years. My credit hovers around 800

monthy income is 16k

P&I - TBD

Monthly expenses(taxes, trash, insurance ect.) estimated to be 1700.

[Erik Estrada]

Quote from @David Wasiloski:

I found a 25 unit property in Louisiana that cash flows well but it needs some updating.  Asking 1.2mil.  I can cover 20% down but is anyone aware of a product/lender where I can put down 15% or 10%?  I would prefer to put less down and start cleaning up this property right away.   I don’t have all the answered but I’m here and open to ideas……

Owner financing is not an option.  I don’t own any like properties but have been a landlord for the last 10years. My credit hovers around 800

monthy income is 16k

P&I - TBD

Monthly expenses(taxes, trash, insurance ect.) estimated to be 1700.

This is possible if the seller is wiling to carry the remaining 15-20%. Most commercial lenders will cut you off at 70% LTV for long term financing.

You can also get a higher leverage on a bridge loan by cross collateralizing with your other investment properties.