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Updated over 6 years ago on . Most recent reply

User Stats

73
Posts
8
Votes
HJ Bercy
  • Investor
  • Florida
8
Votes |
73
Posts

Looking for Loan to add to my portfolio - Multi-Unit in Detroit

HJ Bercy
  • Investor
  • Florida
Posted

Hey Everyone!!

As some may know here, I have invested in Detroit in past 2 years (buy n hold) all cash deals . 

Now we looking to go into commercial properties or buy a package of homes leveraging a loan.

I like to get details on the loans avail from members here.

I can give you example what we currently looking into and our situation.

Credit score 680-720

Cash in Hand: 60k+

Own 2 LLC with multiple producing properties in each.

We are looking at this 20 unit building in Detroit. Asking Price $189k.

Rough Estimate 200k Rehab is needed.

================================

Question I have to start: 

Do you provide similar loans like 203k loans that includes renovation? Terms? Interest rate? Downpayment?

If approved, how long do I have to use it if I am still searching for right property to purchase?

HJ Bercy

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