Texas / Dallas Small Loan Commercial Lender (less than $500k)

[Luke Stone]

Does anybody know of any apartment (5+ units) lenders that do loans less than $500k in the DFW area? If not do hard money lenders do 2-5 year term loans? I think the property could support a loan greater than $500k once it is repositioned. I'm trying to purchase a small apartment building and just don't know of any lenders that will consider a loan this small. Most state of the loan is too small to be worth their time or the fees would be too high for it to work for me. Another issue I'm dealing with is property cash flow. The property's rents are below market but not terribly below market. The problem is the property's expenses are out control. Current annual NOI is only $2,000, which is mostly due to mismanagement. My hope is to get a loan that is more dependent on my personal income. Thank you all.