All Forum Posts by: Daniel Kimerling

(Cross-posting

Hi everyone,

This is a relatively niche question, but i am hopefully someone on BP will be able to point me in the right direction.

I am getting ready to put an offer in on a mid-sized apartment building in ABQ. I have shopped with some of the local ABQ banks and have found that they are willing to give me 3:1 leverage (75% LTC), but they all want to have a 15 year amortization period. I am looking for a bank that will do 75% LTC, but will go out to a 30 year amortization period. I know that this will increase the total interest paid, but i'm happy to pay so that i can have a better fully levered ROIC.

Any suggestions/direction would be appreciated.

Best,

dk

Hi everyone,

This is a relatively niche question, but i am hopefully someone on BP will be able to point me in the right direction.

I am getting ready to put an offer in on a mid-sized apartment building in ABQ. I have shopped with some of the local ABQ banks and have found that they are willing to give me 3:1 leverage (75% LTC), but they all want to have a 15 year amortization period. I am looking for a bank that will do 75% LTC, but will go out to a 30 year amortization period. I know that this will increase the total interest paid, but i'm happy to pay so that i can have a better fully levered ROIC.

Any suggestions/direction would be appreciated.

Best,

dk

Hi all,

I am looking to learn about financing buildings with >4 units, but at the same time not large deals. For example, an 8-unit building for $1M. Obviously I can't work with a bank that sells the product upstream. So how do I find a bank that will do this, ideally in New Mexico? And how is the product priced?

Also, how does this compare to the federal lending programs offer by Freddie Mac?

Thanks

Dan