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Updated almost 2 years ago on . Most recent reply

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Justin Lawrence
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Multi family advice on financing

Justin Lawrence
Posted

Hello everyone. 
I'm looking at buying an 8 unit. I am having a hard time coming up with some of the 20% to put down. Looking for some creative ways to come up with the remaining amount. I do have an owner finance note I could sell to get the remaining balance.
The problem is I would lose allot of money selling the note.

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Arn Cenedella
  • Real Estate Coach
  • Greenville, SC
1,283
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Arn Cenedella
  • Real Estate Coach
  • Greenville, SC
Replied

@Justin Lawrence

I believe you will have a hard time getting an 80% LTV loan on 8 units.

70% is more probable given current interest rates and required debt coverage ratios.

  • Arn Cenedella
  • [email protected]
  • 650-575-6114
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