Looking for lender in NJ for a quick loan for 16 unit apartment

3 Replies

I have a 16 unit apartment under contract.

It is in Irvington NJ.

Currently, it is 50% occupied, goal is to close with a lender for now, then Refi with a traditional bank once it’s 80% occupied.

Contract price is $1.26mm

Looking to put down 15% to 20%

Anyone can help me?

Thanks 

Candace, maybe we can help, I want to send you info, but I can't send it to you using this format, please send me you email address.  Hope to hear from you.

Reggie Truss

@Candace Price - is this an ARV play? Do the units/complex need work? It might not debt-service with just 15-20% down at 50% occupancy. If you can justify a 70-75% ARV, then we can definitely help.

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