All Forum Posts by: Brady Pevehouse
Brady Pevehouse has started 1 posts and replied 11 times.
Post: Need Funding for Multi-Family $1.5M to $2.5M
- Real Estate Agent
- Orlando, FL
- Posts 11
- Votes 4
Currently vetting 2 sites, and not happy about current lending options my client is being presented with.
Looking for a potential cash flow financing basis with 25% down on under-performing investment 40+ units in Florida.
Also interested in loan origination options that are available. I have seen some lenders offering up to 2 pts origination, but I imagine they are asking 4 to 7 puts up front from my client as well as a 9+% rate.
Where is the best place to look outside the box considering my buyer does not want to get into an investment group for a cash purchase.
It has been a couple of years since I have done a commercial lending deal, but I've got the buyer and feel he should have better options. Current lender is very conservative and is offering prime + 1.5 on real estate only, on the lower of existing value or replacement cost.
Am I wrong to assume, better financing exists? I know the current lender can perform quickly, but wouldn't any lender in that scenario? (75% LTV on the lesser value)
Any insight on current SOP is appreciated..