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Updated over 5 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Pete Torrez
  • Tucson
1
Votes |
9
Posts

multifamily financing, 5 plus units

Pete Torrez
  • Tucson
Posted

Good afternoon. I am in the process of finishing construction plans on a really cool industrial design loft multiplex. Very edgy. and low maintenance design. I have worked out the initial financing for land acquisition and construction with two investors who will put up approx $250k (total) and I will get a $500k private/hard money for the the balance.  What I am looking for is the best re-financing option once completed and rent stabilized.  Of course I will visit some of my local banks, but I remember listing to some podcasts where there was some type of Fanny or Freddie loans specific for 5+ units.  Anyone have any info on that?  Your responses are greatly appreciated.   I am hoping to get this process nailed down as I would like to start building 10 - 20 units per year for the next 5 years.  Thanks again.  Pete

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