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Updated almost 2 years ago on . Most recent reply

Financing 25 unit complex
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.
Most Popular Reply

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.
- Erik Estrada
- [email protected]
- 818-269-7983
