Lender for Refinancing a 6 Unit Multi-Family

[Randy Lee]

We own a 6 Unit Multi-family in Atlanta and would appreciate any recommendation for Lenders who will borrow at least 75% of the appraised value. We have about 50% loan and 50% cash currently invested in the purchase and rehab and we have succeeded to get it fully occupied. Our goal is to do the BRRRR strategy or at least get back the cash for now, while still making a decent cash flow. We're currently speaking to 2 out-of-state lenders who are both offering a 5/1 and 7/1 ARM amortized over 30 yrs, 3 points and averaging about 6 1/2% interest rates. I would like to know your thoughts on these terms and whether anyone can recommend any lenders (preferably local) that would be best for our strategy who offer good terms and can borrow on a multi-family in the Atlanta Market.