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All Forum Posts by: Gigi Daniel

Gigi Daniel has started 1 posts and replied 2 times.

Post: Multi unit Financing Strategy?

Gigi DanielPosted
  • Perry Hall, MD
  • Posts 2
  • Votes 0

Tony, our CapEx is close to $300k, we are pushing the owner financing portion to cover the CapEx to cure deferred maintenance. CapEx will be used to replace roof, rehab down and new lease units for rent ready and resurfacing parking lots.

Post: Multi unit Financing Strategy?

Gigi DanielPosted
  • Perry Hall, MD
  • Posts 2
  • Votes 0

Hell BP friends, we have an deal for an apartment complex (sorry, limited property data due to signed NDA). The agreed prices is $1.75M, FNMA loan is at $1.4M and have Seller Financing option for $200k. The CAP rate is over 8 and a good cash flow property. FNMA do not allow Seller financing with agency options. We want to use the Seller Financing to do CAPEX with a promissory note and stay within FNMA rules, is this possible?

Thanks,

Gigi