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Updated over 2 years ago,
Non QM, non recourse, non conventional…?
We have a once in a lifetime opportunity for a 50 unit deal, off market, two blocks from a college in West Virginia. Looking for NonQM, Non recourse, or Non conventional options to finance the deal? Would also like to have the option for creative finance for down payment. If not PI’s are set in place.
The deal: 1.8 DSCR, 5.5 CAP, 6.36 CAP with $34k a month gross. Also has NOT had a cost segregation done so the $30k a year tax bill could potentially be a lot less which would make all of those numbers better in the deal. This deal is time sensitive as I have exclusive insight right now before it goes to market. Thanks in advance for any help!
Personal: DTI 19%, W2 income $200k, liquid assets $2M, credit score 790