All Forum Posts by: Rita Bautista

Every lender, private or banks, will want you to have a cash injection.  You need to save up for the down payment. 100% financing does not exist. 

@Joe Fairless

Yes, all of Texas.  60 units or more.

I'm looking for commercial real estate brokers that can source multifamily properties in these areas.  My client is actively buying in those areas. 

I have a client who is actively buying multifamily properties in Texas, Atlanta and Baltimore.  They are in need of a commercial real estate broker who can help them find properties.  

Smart man!  Commercial is the way to go.  I always refer people to bizbuysell.com  You can find many properties and savvy commercial brokers there too.  

How do you know the vacancies will be filled right away?  Is this in a neighborhood where there is a very high percentage of renters?  Any ideas of how long it takes to fill vacancies in nearby multifamily properties? You may want to research that a bit.  A business plan to fill vacancies will be something most lenders will want to see. 

You may also consider a working line of credit or a working capital loan for houses in that price range.  

If you plan to rehab it, you might consider a project / construction bridge loan combined with the acquisition loan. For that you will need about 10 -20% cash injection.  You can refi when it's stable.  You will need a business plan to show how you will become profitable and the timeline.   I source for commercial loans nation wide. 

Jon 

There are 30 year fixed loans for commercial homes. 

At^. Not ate. Sorry on I Phone