Looking for non-recourse loan for a multi-family property in Baltimore

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Looking for non-recourse loan for a multi-family property in Baltimore

Greg W.
Buy and Hold Investor · Alexandria, VA · Member since 2013 · 180 posts · 48 votes

Hello,

I'm trying to help a friend find a non-recourse loan for a multi-family property he owns in Baltimore. Anyone have suggestions on who I could suggest he contact?

Thanks,

Greg

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  • Al Williamson
    Rental Property Investor · Sacramento, CA · Member since 2011 · 2k+ posts · 1k+ votes
    13y

    @Ned Carey maybe you should chime in on this one.

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  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    13y

    Financing anything in Baltimore is tough. Non recourse is going to be even tougher. Baltimore County should be easier than Baltimore City.

    I have to ask Why? If you just don't want recourse I think you (or your friend ) are being unrealistic. If you have an IRA and need non recourse, keep in mind even though you can finance in your IRA with non a recourse loan there is still a heavy tax consequence. Good luck - Ned

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  • Douglas Dowell
    Denver, CO · Member since 2012 · 350 posts · 175 votes
    13y

    I agree with @Ned Carey until you start looking at loans above $2 Million non-recourse is just not available

    0Reply
  • Greg W.
    OP
    Buy and Hold Investor · Alexandria, VA · Member since 2013 · 180 posts · 48 votes
    13y

    His property is under $500,000 and I'm not sure why he wants non-recourse as I didn't ask him. I just said I would see if I could find any lenders.

    Do any of you know any non-recourse lenders I could direct him to?

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