Financing on a Multi Family 5+ units
I am working with a new investor that is considering multi families in the $2m-$3m price range.
Can anyone out there give me some ideas on what lenders look for in terms of the property? What #'s from the financial statements do they need to know to lend? I know he has purchased other units in the past and am trying to figure out some ways I can provide value. So far he is focused on-
NOI over $160k per year
Fully occupied
No commercial space
Cap rate 6.5+