Multi-Family 87 unit Apartment Complex Georgia

[Kevin Barker]

I am a newbie which has run across a great business contact. He has access to some great foreclosed Fannie Mae apartment complexes. I have been purchasing single family homes but soon would like to get into Multi family. I have mentioned I am interested in the complex just to look at the deal and gain experience. I would like to figure out a way to profit from the deal . Is there a way to assign a commercial property from Fannie Mae?

[Joel Owens]

There is loans for all types of properties.Not conventional lenders but private money and also hard money.

You don't know that it cash flows big.If it did then Fannie Mae wouldn't own it.The former owner would have simply renegotiated the debt service to a lower amount and modified the loan.

Lenders and insurers aren't in the managing business and most times do not want a property back.