Updated almost 2 years ago on . Most recent reply
Struggling to pull together financing for a 9-plex.
Hi, relatively-new investor here with a couple single-family homes looking to move into a my first multi-family property. The property I've set my sights on is a 9-plex where the owners are willing to carry 70% of the loan at a 5.5% rate for a $1,800,000 building. Currently, I have about 10% of that in cash and I'm struggling to source the remaining 20%. I have equity in both of my properties that I can leverage against if necessary, but I'm wondering how I would go about finding private lenders to discuss options. Any advice?