Hello Fellow Investors
We own a 32 unit apartment in Arkansas. We bought it for $75K and spent approximately $400K in the rehab.
We are now looking to Refinance it with a commercial lender or bank and are finding it hard to locate lenders who can can lend that amount. Most of the banks we get in touch with say they have a minimum of $1M loan for apartment complexes. Are we doing something wrong here?
@Pragya Singh where is the property located?
you bought it 32 units for $75,000??
it doesn't sounds right what they say, which banks did you talk to?
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing