All Forum Posts by: Simmy Ahluwalia

Yes, to the O/O suggestion.  

Negative, not a thing.  The best-case scenario is 80% cash-out (your dscr and credit have to be solid).

@Ryan Schaefer - sounds like you have a good project in place.  Here is my $.02:  I don't know where you are located or the size of the parcel of land, but this is what I would do:

1.  If the land is big enough to accommodate both your wife's MOB and a separate, independent apartment complex, I would offer the following:

a.  Leverage SBA (owner occupied at 51%+) for the construction of just the Office piece.

b.  Create separate plans for an apartment complex next door to the office complex.

@Necho Williams - we can certainly look at this and price it out for you.  Reach out.

@Danielle DeCormis - yep, it definitely exists. Double check the zoning for MU. Not sure how long it's been vacant, but definitely have an Inspection done for any foundation issues, walk the property with a licensed GC to determine the exact SOW. You'll have to research market rent comps to UW the DSCR.

@Brooke Morton - they do, but they want to understand your end goal. Typically, banks will lend at 50% LTV on raw land.

@Brandon Cox - Buy. If you've been leasing for that long, definitely purchase. Lots of advantages for owning your own property. You'd be a good candidate for a low-down payment SBA loan. Be sure to check on the monthly HOA dues as well. $38/sf seems high, but I don't know this market. You should source a VERY Experienced CRE Realtor (not Residential) to guide you on the purchase and negotiate for you.

@Corey Hoeft - what's the actual price? Any Reno experience? There is no 100% financing for a 7-unit ARV play, you'll have to have skin in the game.

@Anthony Rivera - we've funded several in the NC market.  We can get creative with previous SPEC build history.  Reach out and let's chat about this....

@Joshua Kavadi - are you still looking for an Agent?