All Forum Posts by: Carol Bloom

It sounds like to get a loan it would be different for student housing versus a traditional multi-family apartment building loan. 

Hi Michael,

Thank you for your reply. @Tom Keating told me about Small Balance Loans backed by Freddie Mac up to 50 units I think I can get funding to use for different types of multi-family investing.  I can appreciate the downside of what you are saying about the high turn-over rate. 

Hello!

I'm Carol, I'm researching the student housing market, who has experience in this niche? Why invest in student housing over traditional larger multi-family units ? Is student housing investing only for the institutional investor?   

Appreciate your insight.

Carol

@Tom Keating Freddie Mac Small Balance Loan sounds like exactly what I'm looking for. I'll send a PM. Thank you for replying to my post.  

@Jody Schnurrenberger

First and foremost thank YOU for your service! I am very sorry to hear about your brain injury I hope the VA can provide you excellent care, you and all service people deserve it!

It makes complete sense why you are looking into Raleigh plus they have excellent hospitals/teaching institutions not sure if they are part of the VA system for you.

I wish you continue success.

Carol

@Joel Owens greatly appreciate your creativeness on ways to finance a property using a self-directed non-recourse loan. I will check with the IRA company on options. Thank you!

@Roy N. and @Joel Owens it would be great if I could get an interest only loan using my self-directed but I had thought I could only use a non-recourse loan. Joel can you shed more light please? 

@Jody Schnurrenberger

I'm curious why not invest in your own city Asheville instead of Raleigh?

Thanks!

@Joel Owens

@Joel OwensWith non-recourse loans I have only found one lender so far from BP, the requirement is 40% down and will only wrap 10% for rehab into the loan because he doesn't want a fixer, who do you know that offers non-recourse loans?

 My thought is what @Roy N. is suggesting, purchase a property that has been neglected and poorly managed and turn-it-around then refinance to repeat. 

I have to use a non-recourse loan because the down payment is coming from my self-directed IRA acct.

@Roy N. are you using a commercial broker to find the properties 10+ units?

@Roy N. thank you for your reply. It seems there are special rules that come with a non-recourse loans vs a traditional commercial loan. Your point about clarifying upfront with the lender what my intent is will be best to figure out how to structure the deal.