Creative Financing Dallas MFR: $100K --> $200K loan

[Yonic M.]

Hi folks - I'm interested in purchasing a 6 door (2 SFH + 2 duplexes) portfolio in Ft Worth, Texas. The asking price is $1M and lender can finance up to $700K. I'm expected to bring $300K in cash to close. I can bring max $200K and property will need repairs. I can bring ~$200K but would like to bring ~$150K, ideally $100K. ARV is $1.1M. Monthly rent potential is $9K/month and seller loan is interest only for first four years then a ballon payment in year 4.

Anyone know lenders that could help me with this transaction and lend me ~$100K - $200K?

[Jay Hurst]

Quote from @Yonic M.:

Hi folks - I'm interested in purchasing a 6 door (2 SFH + 2 duplexes) portfolio in Ft Worth, Texas. The asking price is $1M and lender can finance up to $700K. I'm expected to bring $300K in cash to close. I can bring max $200K and property will need repairs. I can bring ~$200K but would like to bring ~$150K, ideally $100K. ARV is $1.1M. Monthly rent potential is $9K/month and seller loan is interest only for first four years then a ballon payment in year 4.

Anyone know lenders that could help me with this transaction and lend me ~$100K - $200K?

 @Yonic M. Why is your lender only able to lend up to 70% loan to value? and when you say ARV is 1.1 m how much money is needed in rehab to get to 1.1m? Or, are you saying the bundle should appraise for 1.1 m AS IS today?