I need 2million first on a 48 unit apartment I'm purchasing
Hello, I have a 48 unit AAA 1976 built apartment pending. It's in a major city near their university. Fully occupied with a waiting list. The cap rate is 9.25%. I might assume the existing mortgage, but if I could find someone to just lend me 2 million CAD and take first position that would ideal. 2m would be approxmiate 90% LTV. However it's likely the property could appraise even higher than what I'm purchasing it for. If interested PM me or email me at my website: www.mshinvestments.com