Looking for a commercial lender on a 6 unit in upstate New York

Upstate New York, New York
Classifieds
1yFollow

Looking for a commercial lender on a 6 unit in upstate New York

Mike DalyPro Member
Los Angeles, CA · Member since 2017 · 7 posts · 3 votes

Hi,

   I'm looking for a commercial lender for a deal on a 6 unit in Upstate New York. Any recommendations would be appreciated.

2Reply
30 views

Investor-friendly agents in York, PA

See the agents BiggerPockets members work with in York, PA.

Most Popular Reply

Devin PetersonBusiness Member
Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 676 votes
1y

Mike, lots of options in this space. Do you have any investing experience in the area as it is?

[email protected]860-538-3672
ProAlpha Capital56 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

8 Replies

Jump to latestLatest
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 676 votes
    1y

    Mike, lots of options in this space. Do you have any investing experience in the area as it is?

    [email protected]860-538-3672
    ProAlpha Capital56 Reviews
    WebsiteView Page
    1Reply
  • AJ ExnerPro Member
    Lender · Springfield, MO · Member since 2023 · 661 posts · 320 votes
    1y

    Hey Mike,

    6-units should be doable, I'm guessing you are looking more along the DSCR route on it? Do you already have it under contract and have the financials behind it?

    Shot a DM, happy to see if we can help.

    [email protected]417-427-2612
    0Reply
  • Mike DalyPro Member
    OP
    Los Angeles, CA · Member since 2017 · 7 posts · 3 votes
    1y

    I have a number of rentals in the area, but all under 4 units. It's off market (for now) I'm waiting on the rent rolls.

    0Reply
  • Ko KashiwagiPro Member
    Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
    1y

    Hi Mike,

    How many of the 6 units are occupied? If the NOI is tight, you might want to go with a DSCR program that goes off of Rent/PITIA. If the loan amount is high enough and the NOI is there, you can go for full doc or a program with more stringent UW model for better rates.

    Happy to take a look

    310-848-9776
    0Reply
  • Harold Sebesta
    Lender · Marlboro, NY · Member since 2016 · 71 posts · 3 votes
    1y
    Quote from @Mike Daly:

    Hi,

       I'm looking for a commercial lender for a deal on a 6 unit in Upstate New York. Any recommendations would be appreciated.


     What area of upstate NY?

    0Reply
  • Dave CurrencePro Member
    Investor · New York City, NY · Member since 2015 · 51 posts · 22 votes
    1y

    Hi Mike- I sent you a message. I’d be happy to take a look at this, and see if I can help. Good luck with it, either way!

    0Reply
  • Mike DalyPro Member
    OP
    Los Angeles, CA · Member since 2017 · 7 posts · 3 votes
    1y

    Thanks, Everyone!

    0Reply
  • Fred Shatzoff
    Lender · Member since 2019 · 604 posts · 160 votes
    1y

    Happy to help with funding

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free