Multifamily refinance question
I have a property that I am excited about and I believe will appraise for 1,050,000 after $100k of rehab. I have financing in place but at a high rate of 11%. I will be 750k all in and hopefully this 7plex will appraise at $1 million plus.
What is the likelihood of a bank refinancing this deal at 75% LTV ? Can someone please recommend a bank to me that can do a reasonable term? its a 7plex in Phoenix and in a ok area.
Any recommendations are appreciated!!