multifamily financing, 5 plus units
Good afternoon. I am in the process of finishing construction plans on a really cool industrial design loft multiplex. Very edgy. and low maintenance design. I have worked out the initial financing for land acquisition and construction with two investors who will put up approx $250k (total) and I will get a $500k private/hard money for the the balance. What I am looking for is the best re-financing option once completed and rent stabilized. Of course I will visit some of my local banks, but I remember listing to some podcasts where there was some type of Fanny or Freddie loans specific for 5+ units. Anyone have any info on that? Your responses are greatly appreciated. I am hoping to get this process nailed down as I would like to start building 10 - 20 units per year for the next 5 years. Thanks again. Pete