Updated almost 10 years ago on . Most recent reply
Need Multi-Family Financing in Tampa, Florida
hey everyone,
I bought a 9 unit for $210,000 in Tampa, Florida a couple weeks ago. It needs about $25,000 work of work and after operating expenses, it should generate an NOI of $40,000 per year. At a 10 cap it'll be worth about $400,000. I'm having a hard time finding a lender that'll let me pull a credit line of 70% LTV of $400,000. Do you guys have any local banks you recommend?