ISO Lender for Ft. Lauderdale 4-plex

[Matthew Kohen]

Hello BP Community!

Myself and two colleagues recently got our first investment property under contract.  All three of us are first-time buyers, but can show W-2 income, good credit scores, and low debt.  The property itself is in good condition, and is fully rented.  It cashflows positively in its current state, but with a little value add, we are forecasting that it should perform at a cap rate of somewhere between 9-10%.

Our goal is to secure a 30-year fixed-rate mortgage in the name of our LLC, and then have us three owners personally guarantee the loan. Our realtor typically works with cash investors, so the mortgage brokers he has put us in touch with have been a little out of their element when it comes to financing a transaction in this manner.

Has anyone out there worked with a bank or mortgage broker in the area that will finance a deal along these lines?  If so, I would love to pick your brain.  Similarly, if you've got any recommendations for individuals / companies who will work with first-time (but hopefully soon-to-be repeat) investors, I would be very grateful if you would put us in touch.  

Ultimately, we are flexible in how we finance this deal.  It's a solid property with great income potential, so any advice you might be willing to offer would be most appreciated.

I look forward to chatting with everyone!

Best,

Matt