How to Find Long Ammortization Loans

[Connor McGinnis]

I have an apartment complex under contract in the greater New Orleans area. It is the best deal that I have found in 6 months of searching. 12 units total. 9.2% cap rate.

I just need help with financing this deal. I am 100% financing. I am taking a down payment loan out from my parents at 5% interest, 10 years amortization. They will not do a longer term.

I need help finding a bank or national commercial lender that could help provide me a commercial loan with a 25-30 year amortization. The local offer from several banks in the area is 7.5% interest rate at 20 year amortization. This number projects a -$15k annual cash flow due to having to pay back the down payment loan at the same time, which is hard to incur.

Any advice or any recommendations on who I can work with to provide a 25-30 year amortization loan to help with cash flow?