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Updated over 5 years ago on . Most recent reply

Gary B.'s profile image
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Gary B.
  • from Hayward, CA
  • Member since Dec 1, 2017
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Gary B.'s profile image
Gary B.'s profile image
Gary B.
  • from Hayward, CA
  • Member since Dec 1, 2017
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Gary B.
  • Hayward, CA
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133
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Multi-Family and Apartment Investing

Rehab Loan needed for repurposing building into apartments

Gary B.
  • Hayward, CA
Posted

Hi There,

I need to get a rehab loan on a property that I will own but can be converted into 28-32 apartments. Can someone suggest what is the best way to get a rehab loan in range of $500K to $1MM?

thanks, Gary

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Greg Dickerson#2 Land & New Construction Contributor
  • Developer
  • Charlottesville, VA
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Greg Dickerson#2 Land & New Construction Contributor
  • Developer
  • Charlottesville, VA
Replied

@Gary B. a local or regional commercial bank is the seat bet for small loans like this. You need to shop several as they all have different appetites at different times an offer an array of terms and rates.

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