All Forum Posts by: Craig Yarnell

@Joe Cassandra Hi Joe. You are right, majority of private lenders that are backed by individual wealth and credit facilities that are tied to the stock market are closing up shop or delaying fundings. The key is to find a private lender in full control of their own funds that have been raised through being entrepreneurs and investors themselves. Balance sheet private lenders have the ability to move quickly in a down market to help position you ahead of the recovery curve.

@Gary L Wallman being in a position to buy is a great thing right now in this market. Have you thought about trying to negotiate a price discount at least with the individual seller? They may need to sell as quickly as possible with the current circumstances and starting over with someone else they would be unlikely to close for quite some time. Holding on to your cash and getting a short term i/o bridge loan from a private lender would also be worth looking into.

Hi Ashley, 

Typically multi-family rehab loans require a larger down payment due to the LTV restrictions of exit financing options. Most long-term loans will have a maximum loan to value of 75% and local banks, credit unions, etc may be closer to 65% if they offer that type of financing at all. There are some long term commercial lenders that will give higher LTV's for portfolio packages, so you may find better options if you have multiple properties to refinance at once.

Hi Kelly, would be more than happy to chat with you about funding options for both acquisition and rehab of your multi-family project thank you. https://www.directlendingpartners.com/multi-family-bridge/