Lender needed for MFR in west and south-central Michigan

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Lender needed for MFR in west and south-central Michigan

Patrick Britton
Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes

I am looking for a lender who would finance multi-family purchases in several cities in Michigan: Jackson, Albion, Battle Creek, Kalamazoo etc.  Most important thing to consider is the value of these MFRs will be below $150k and some values might only be as much as $60k.  

These are buy and holds only, so I'd need a longer term amortization.  Please reply to this post first before contacting me.  thanks

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  • Account Closed
    Property Manager · Baton Rouge, LA · Member since 2014 · 2k+ posts · 195 votes
    7y

    Patrick, are you a real estate investor planing on using your personal credit to finance your properties ? If so, you need to set up an LLC if you don't already have one. Use your business entity for cash or partner with us. See how it works by clicking the image below and watching our video then, click the link to apply and start or grow your real estate business the right way.

    Business Funding up to $300k+

    https://nationalcc.wufoo.com/forms/hamilton-investment-properties/

    Also, we offer several different financial services products:
    1) Business Loans requiring lower credit scores 2) Merchant Cash Advances 3) Factoring 4) Equipment Finance 5) Term Loans 6) Credit Card Processing with cheap rates

    Additionally, we manage rental properties in southern Louisiana for select partners

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  • Doran Summers
    Lender · Chicago, IL · Member since 2015 · 608 posts · 70 votes
    7y

    @Patrick Britton most lenders will require the value of each property to be min $75,000 for an Rent ready multifamily Property. Keep in mind if don’t have an deferred maintenance then you will need 20% to 30% downpayment depending on credit score, dscr and other factors. Let me know if you have other questions or concerns.

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  • Patrick Britton
    OP
    Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
    7y

    @Doran Summers  yeah, i know what "most" lenders require.  This is why i'm posting something in BP; I'm looking for non-conventional lender (another reason why this post is under PRIVATE MONEY category) .  

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