Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

155
Posts
41
Votes
Michael Wolffs
  • New York City, NY
41
Votes |
155
Posts

Need a mulit-unit lender in NJ

Michael Wolffs
  • New York City, NY
Posted

Here's the situation. I own (through an LLC) a three unit rental building in Jersey City, NJ. The building is now (as of 7/1) completely rented. Neither the building or the LLC is carrying any debt. I am looking to get a cash out mortgage on the property.

I've been told the fact that building is owned by and LLC is an issue. Are there lenders that will work with this? ideally I'd like 75% LTV. The terms I was expecting was 30 amortization with a 10 year ballon. I am open to other options.

Who should I be talking to? Also, should I wait a few months to show cash flow and firm up my NOI numbers?

Loading replies...