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Updated over 7 years ago,
Question regarding purchase of multiple 1-4 units
Scenario:
10 Properties, 14 units in a great area across the country from me.
Assuming 50% expenses, etc. debt coverage is above 2 using 5% 30 yr.
I am an investor in non real estate/ hands off real estate assets and work part time as a loan officer in commercial, res,etc.
I would like to hear some feedback regarding types of financing that is probable and what I should be seeking. And plausibility of finding financing. Seller wants a single close.
Local bank blanket loan is where I believe I have the most potential. One catch is: I would like 20% down pay. This is not 100% necessary, but my preference.
Thanks in advance,
Cameron M