Seeking Lending Partner for Expanding Portfolio

[Steve Cook]

Hi BP!

Happy New Year!

I'm an investor from San Francisco with a portfolio of investment properties in Indianapolis. Over the holidays I had some Family members express interest in the business and I'm now in the process of raising a Friends and Family round of capital to purchase 25-30 additional properties. I am targeting a capital raise of $625K in equity $1.875M in debt for a total raise of $2.5M at 75% LTV. I'm currently seeking a lending partner who can lend at a competitive rate with 25 - 30 year fixed terms.

To provide some additional background, I'm currently focused specifically on C+ and above assets in Indianapolis that generate 10%+ returns. I do not operate in war zones and all my properties are professionally managed by a PM with 300+ units under management. Across my PM's total portfolio, he sees ~5% vacancy. The DCR across my portfolio is 1.3. I have a assembled a very strong team in my inspector, Property manager, broker, and insurance provider. Finding a lender is the final piece of the puzzle.

Does anyone have any solid leads?

Happy investing,

Steve

[Tracey Williams]

@Steve Cook

Thank for sharing your experience with the various lenders and your field back with Colony. 

Just for clarification, you will be converting the portfolio to a term loan with Colony?

Great job!