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Updated over 3 years ago on . Most recent reply

User Stats

31
Posts
13
Votes
Jack Rozema
  • Attorney
  • Manhattan, KS
13
Votes |
31
Posts

Expectations for debt terms on a 100-200 unit

Jack Rozema
  • Attorney
  • Manhattan, KS
Posted

I’m looking to propose a deal to some investors I know. There are two properties I’m looking at specifically, one is a 102 unit complex, the other a 224 unit. I have the basic financials and rent roll from the agent, but i haven’t seen an asking price yet. However, I can estimate what they’re worth based on the real estate taxes paid over the last year. Going to tour the properties next week.

Given those estimates, what should I expect when looking to get financing for these?

15-25% down payment?

15 or 30 year terms?

Interest rate?

I know it’s a lot of “it depends,” so what factors should I focus on that will determine these things?

Any recommendations for where to go for this financing? Specific lenders? Hard money?

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