Investor · FL · Member since 2016 · 68 posts · 14 votes
Hello BP, I have a 30 unit multi-family brought to me off market bye a seller agent I purchased my last deal with. The owner's inherited the property and are looking to exit quickly. We negotiated a price before it was listed. We are looking to close the deal and keep for long-term cash flow. It's a stable property with only two physical vacancies. Rents are 20% below market and there is a value add component with cosmetic upgrades. We have the down payment. Just need a proper lender and/or advice to close from experienced multi-family operators.
Contracted price $773k w small seller contribution ($25,785/door)
Investor · FL · Member since 2016 · 68 posts · 14 votes
7y
Still looking for commercial lending a small multifamily building in Albany, Ga. We have a signed contract, completed inspections and down payment funds. Looking for the right partner to leverage the deal with.
I can get you in between 15% and 20% down with a 600+ FICO, and a pretty good interest rate...
Applications are on the Get Started page of my site. No credit pull, or anything to apply. We're going to need rent rolls for each address, and a little bit of detailed info specific to the property, but the seller should be able to provide you with the most of it...
Doc's needed for mortgage pre-approval:
-PFS on all borrowers (married couples can use one form)- 1st attachment
-Every Principles Tri-merge (Send yours - we don't pull credit)
-Property Rent Roll - example attached. Need the square footage of each unit.
-2017 and year to date income and expense report on property