Banks for a loan on multi-family units
Lets just say the terms were unworkable. 25% down, an extra policy to cover nopayment by tenants, and they were going to add an extra 1.25 to the rate due to Covid. Anyone else seeing crazy terms like this?
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@David Jackson - you need to have multiple streams of leads coming in. Brokers, LoopNet, word of mouth, MLS, Realtors, other investors, wholesalers, direct mail, social media. Don't rely on one source to find deals and don't rely on one source for funding. Sometimes, depending on the deal or depending on how many deals you're working on, you need to have multiple ways to finance acquisitions.