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Updated over 8 years ago, 08/29/2016

User Stats

56
Posts
38
Votes
Tareq Salaita
  • Investor
  • Decatur, GA
38
Votes |
56
Posts

What is the best way to grow after paying cash for MF in Atlanta

Tareq Salaita
  • Investor
  • Decatur, GA
Posted

I bought a MF unit in Atlanta 2 years ago and now I have found the value has gone up by about 30 percent. The property is paid for by cash (clear title under LLC name) and has been generating healthy cash flows. I need advise from experienced investors on my options to tap the equity to continue investing and growing. What is the difference between taking a mortgage out vs. an equity loan or line? What is the typical interest rate for commercial lending on this? What are the underwriting requirements? I have other SFH in Atlanta, can a commercial lender potentially bundle them all under a portfolio ? I have excellent credit but I work overseas (i have tax returns but no w2s)-- would that be an issue?

Thanks for any help here!

Tareq

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