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Updated about 9 years ago,
Possible to get 80% LTV on a 12-unit Multi-family?
Hey everyone, I'm new here and looking forward to connecting about real estate investing. My partner and I are in the process of buying a 12-unit multi-family building in the West Chicagoland area.
The financials are solid, fully-occupied, all paying, room for rent increases, easy to rent units close to Chicago CTA line. Gross rents at $8,600, net at $5,600+.
I'm looking through my financing options, and trying to get the best combination of long amortization schedule, low rate, and low down payment (want to maximize cash flow early on). We'd specifically like a 30-year amort, and 80% LTV.
Is it possible to get these kinds of terms for this kind of property?
Thanks in advance.