MultiFamily Financing for smaller loan amount

[Arijit De]

I joined BP just yesterday after the webinar - I have been reading posts and articles in this website but yesterday's webinar convinced me to join the Pro membership. Thanks for all that you guys do - its really awesome to be part of BP community.

I have 2 duplex properties in Indiana. I purchased them in cash and added new appliances, repairs, etc. Both the units in both duplexes are currently rented. While trying to find lender to refinance those properties, I'm struggling find those who would allow 75-80% LTV on the properties to be cashed out. Are there any pointers or lenders that BP folks have good experiences with?

[Shaun Weekes]

Originally posted by @Arijit De:

I joined BP just yesterday after the webinar - I have been reading posts and articles in this website but yesterday's webinar convinced me to join the Pro membership. Thanks for all that you guys do - its really awesome to be part of BP community.

I have 2 duplex properties in Indiana. I purchased them in cash and added new appliances, repairs, etc. Both the units in both duplexes are currently rented. While trying to find lender to refinance those properties, I'm struggling find those who would allow 75-80% LTV on the properties to be cashed out. Are there any pointers or lenders that BP folks have good experiences with?

Fannie won't do more than 70% cash out on multi-unit properties. If you need more, you'll have to find a commercial loan, private money or some type of portfolio loan.

I hope this helps and have a good one.