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Updated 4 months ago, 09/16/2024
Private lending for multifamily
A set of two multifamily properties are being liquidated and sold near me and it’s about $2M before any possible discount/negotiations with the owner. They are currently almost entirely rented condo or townhouse style units, producing income. How would one go about getting a loan to take on the properties? I own a construction company and would manage them and manage maintenance myself, and likely even rent a unit to myself to keep it simple (I’ve been a resident manager before too). My investment company has one property in the middle of a rehab right now, so our assets are all tied up in it but the opportunity is now.
Ideas?