Getting Secondary Mortgage Loans

[Manik Zaman]

Wanted some advice getting financing larger residential property purchases for buy and hold; 2-4 million valued properties. Likely that I would have to put put down some good amount, exploring options to get secondary financing or other legit options.

How does this process work? If somebody expert could help please.

[Kevin Romines]

My suggestion would be to take a 1st mortgage with Fannie Mae or Freddie Mac small balance commercial loan. They start at 1 million and go to 6 million. The down payment would be 20%. They have the best terms of virtually any lender in that space. So on a 2-4 million purchase, your down would be 400-800,000. If you don't have that much cash, consider syndicating to get the cash into the deal that you need. If its a good enough deal, you can find syndication money. Look in the market place on here. Market your deal to get the partners that you need.