All Forum Posts by: Mike Bloom

@Mike Bloom What did you buy it for? Unlikely you will find a commercial lender for 80% ltv. Most likely 75%. Here is an example. You buy it for 2.5 million. Rehab for 500k. All in at 3 million. New price 5 million. Refi at 75% of ltv or 3.75 million. Pay off the 3 million and and get 750k for your next project. Most commercial loans are variable rates locked in for a certain time period. 5,7 nd 10 years fixed are some of the most common and commonly higher interest rates than residential loans.

Hey Tim thanks for the answer!
Do I need to make monthly payments on refi loans? or do they just get equity?
Lender is my cousins friend I could possibly try and negotiate and bring him to 85-90ish

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Greetings, BP!

I'm having trouble understanding LTV Refinance loans.

Let's say I have a 20-unit multifamily apartment that I rehabbed and brought up occupancy rates to the point where the appraised value is $5 million. Does that mean I have to put up 20% of my own money if a lender is ready to give 80 percent LTV? Should I just leave things alone?

and btw what is 110% LTV? do they give you 10% extra?

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Greetings, BP!

I'm having trouble understanding LTV Refinance loans. Let's say I have a 20-unit multifamily apartment that I rehabbed and brought up occupancy rates to the point where the appraised value is $5 million. Does that mean I have to put up 20% of my own money if a lender is ready to give 80 percent LTV? Should I just leave things alone?

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All Forum Posts by: Mike Bloom

Mike Bloom has started 10 posts and replied 13 times.

Post: A Newbie Question About Loan To Value Refinance

Post: A Newbie Question About Loan To Value Refinance

Post: A Newbie Question About Loan To Value Refinance