Multi Family Loans for rehab?

[Kelly Wiggs]

Any recommendations for on where to find funds to rehab a 20 unit apartment building with an additional 10k of commercial attached located in Indiana? Tons of add value. Listed at 200k and I have the funds to purchase, estimated rehab at 150K-200k for apartments, ARV at 500-600k. Seller is motivated so I could be closer to 125-150k purchase price.

The plan would be to rehab and lease the apartment section first to generate cash flow. Then repeat with the commercial.

I could be in this for 300k if I had to and fund the purchase and rehab with cash, but I'd rather be in for 150-200k. Annual NOI would be in-between 67k and 90k on just the residential as lots of opportunity to increase rents in redeveloping area.

I have good credit, High DTI, Non Traditional Income, some cash reserves, 6 years residential rental and rehab experience

I'm talking to my Credit unit on Monday, but I wanted to reach out for alternative recommendations. Thanks for any guidance!

[Craig Yarnell]

Hi Kelly, would be more than happy to chat with you about funding options for both acquisition and rehab of your multi-family project thank you. https://www.directlendingpartners.com/multi-family-bridge/