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Updated about 2 years ago on . Most recent reply

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Phylesha Smith
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Recommendation for borrowing against our 14 unit complex

Phylesha Smith
Posted

We recently built 2 single story apartment buildings. Each building is 7 doors. We need to borrow against the buildings to invest in our next property that we have run low on cash flow to finish due to all the inflation. What is the best avenue to take?

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Mark Munson
  • Lender
  • Orlando, FL
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Mark Munson
  • Lender
  • Orlando, FL
Replied
Quote from @Phylesha Smith:

We recently built 2 single story apartment buildings. Each building is 7 doors. We need to borrow against the buildings to invest in our next property that we have run low on cash flow to finish due to all the inflation. What is the best avenue to take?


Are they stabilized or are you still finishing them? If the former, you can get a DSCR loan and cash-out up to 70-75%, depending on the DSCR.

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