All Forum Posts by: Account Closed

Are you looking to move up from fix and flip residential properties to multifamily real estate ( ie.,apartments)?  We originate small mortgage loans for Fannie Mae and Freddie Mac.

Rates in the fours, non-recourse, nationwide coverage, standard underwriting.

We can also help you find investors to assist with the down payment.

If you are an experienced real estate investor with a track record, give us a call.

Richard  434-325-7229

We provide purchase mortgages for multifamily properties in the D.C. region. Call if you need assistance.

Richard 

I am a multifamily mortgage broker. We can get 80%, sometimes 85% ( with mezzanine debt). 20 yr amortization, 5-7 yr term. Fannie Mae, FHA, private and hard money. DSC usually 1.15.

Give me a call.

Richard

We are a licensed multifamily mortgage lender dealing nationwide. We can assist investors of small multifamily properties get funding. ( $.5 to $10 million).

Fannie Mae, FHA, conventional, private and hard money loans are available.

We can also assist in finding mezzanine debt to cover some of the down payment requirement.

Acquisition and refinance only. ( No new construction.)

Richard at Omni Nationwide Mortgage.

Fannie Mae has a small multifamily mortgage program that goes to 75% LTV. You can get 15% more with mezzanine financing. That's 90%. Look for a Fannie broker.

Bob, looks like you've got it covered.  Do you have a single-close purchase/ rehab, permanent loan product?  ( Like construction-perm for commercial structures.) I have never seen one.

Good luck in 2016.

Dick Dyas

I recommend structuring MF ownership as an LLC, with third party investors ( not yourself) receiving a preferred, but limited return. For example, preferred members get paid, first, in an amount equal to 10% of their investment on an annual basis. They share in sale proceeds equal to their pro-rata investment. These membership shares can be sold on Crowd Funding portals. It is costly, but if you don't have the down payment it is the best option.

25% is a Fannie, Freddie requirement for multifamily. No exception. But their loan terms are worth it! I recommend structuring ownership as an LLC with yourself and other members ( partners). Structure their ownership as preferred holders with a return of 10% to 15%, (preferred pay out). You will find this is a cheap fix compared to the cost of private or bank lenders.

Also, for single family ( 1-4) investor loans, Fannie's limits on investor loan is a little more complex than you explain.  See my recent blog on this. ( https://www.biggerpockets.com/blogs/7327/47454-how-many-investment-properties-does-fannie-mae-allow)

Where do you get your financing? Do you use Fannie Mae of Freddie Mac mortgages? What is the typical LTV for those? How do you structure ownership? LLC? What return do you give your investors ( target)? What is your target cap rate?