30 year multi-family loans

[Jeff Overstreet]

I have the opportunity to buy a apartment complex for $1,500,000. The broker said he had a commercial banker that would give the following deal: 10 yr fixed/30 yr amm- 80% LTV at 4.65%.

I have over 50 units, but they are all on a 15 year amortization. Does anyone have experience with 30 year amortization loans on larger projects such as this one. Is that wise? The excess cash flow will be over $10,000 per month.

Thanks,

[Mario Brown]

@Jeff Overstreet use excess cash flow to pay down principle. Ideally you would not have to expose your current assets but definitely a "first world problem" congrats :)