Looking for Lenders willing to do max 8% and fund 1m+

7 Replies

Have a deal under contract for 1.6m looking to add 150K for repairs. There are 30 units average unit rent is $525 per month will be able to raise $100 right away no construction needed. After repairs would be able to rent for $850 per month. Looking to do the BRRRR strategy refinancing asap. Would like at least 14 months this is in Missouri. Please message me for other details and or questions.

@Mark Tallent

Is this the same deal you had mentioned in another post?  The problem is that once you get into the commercial side, lenders definitely want to see your experience.  You mentioned that you're a newbie, so you might have to partner with someone who has that experience.

You can get rates somewhere between 8-10% for a 1-4 year loan (or maybe a 1-yr loan with 6-month extension), but the other problem is down payment.  Lenders will be looking for 20-30% down payment for commercial properties.  If you have this, contact me and we can get this done.  Otherwise, you'll definitely have to bring in another partner.

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