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Updated about 4 years ago,

User Stats

11
Posts
1
Votes
Andy Finneran
Pro Member
  • Real Estate Investor
  • Weehawken, NJ
1
Votes |
11
Posts

Pricing and financing a 6 unit building in NYC

Andy Finneran
Pro Member
  • Real Estate Investor
  • Weehawken, NJ
Posted

I'm looking to buy a 6 unit building and running into difficulties finding financing. Building has a 1st floor retail space and the other 5 units are apartments so it falls under a commercial loan. Having a hard time getting a loan officer to even call me back. I currently own a 3 unit multi family and single family as rentals in NJ so maybe I'm not asking the right questions. 

I have all the numbers (leases, taxes, maintenance, electric, gas, garbage, etc.) ran them through the Bigger Pockets and two other calculators to get a good estimate on the price. Just need to get in front of a loan officer to present this.

Also need a real estate lawyer to close that can do a trust later.

Thanks,

Andy

  • Andy Finneran
  • Loading replies...