Side List: Who Has Funding for Multi-Family Housing for under $100K?

A BIG thanks to Amy Thornton for her similar discussion on Funding for Multi-Family Housing, but perhaps we can shorten the list a bit to make it more useful for those on a little smaller budget, like me!

Same request for LTV, Loan Terms, etc. applies.

Views: 130

Reply to This

Replies to This Discussion

Where are you picking up 5+ units for under 100K...Even most residential lenders don't want to do loans that low.

I only have 1 group in hand that will do multifamily that low, and while their rates are solid for full document loans, it will cost you with regards to origination charges at close.Either that or I know of a couple hard money groups that will do them, but again it's going to cost with regards to points and interest rate and you prob won't get better than 65 LTV.

Best,

Jared

jared@glblsolutions.com

209 481 0514

Hi Jared,

Your question made me smile. I live and work in South East Idaho, more specifically, Idaho Falls, Idaho. Our real estate prices here do not reflect much of the market in the more metropolitan areas of the country so it seems. I have only managed to pick up one 5+ property for $50K and that was on a deal of a lifetime.

Right now I'm working on a 4-plex that is listed for $159,900, and while I'd like to negotiate the price down even further, at it's current asking price, it is a full $15K-$40K lower than 3 other neighboring 4-plexes that have sold recently in the same complex.

What would be the terms from your lender for such a property?

Marti Castle Warr
208-351-5533

Marti,
Peak Choice Capital is  located in Neenah, WI. We provide direct lending for various commercial request with urgent financing needs.  Peak Choice Capital fills the gap and helps commercial clients achieve high level financing. We are changing the way business capital is achieved and we take pride in the way we have simplified the application process. (No broker chains involved) Our commercial finance is suited for self-employed and private borrowers that struggle with SBLA and typical bank regulations.
What you can expect:
LTV/LTC maximum 70%
Loans from $25,000 to $1,500,000 (minimum property value of $75,000)
Credit rating 600 min (650 credit Minimum Required over $500,000)
No hard credit pulls
Limited documentation required.
2-3 Weeks for a complete close. 
From 5 to 30 Year Fixed-No balloon
Decisions within 48 hours of application
No upfront fees or hidden cost
Interest Rates from 9-11%

Hello,
Am a private lender willing to work with you, Contact me to visit the company website for more info on direct funding, asset protection, credit repair, business solutions and much more. Email#  Clar.mrssisi@mail.com

We offer easy financing for any Real Estate purchase 100k and below. No credit required, fast closing (within one week). You come in with 35% of the purchase price and we will fund the other 65%, with no questions asked. Use our program , there is no limit to the number of properties you can purchase. Don't waste time, with who make, lending difficult and tie you down with paperwork and guidelines, that are not investor friendly. We are lenders/ investors and understand the business and that timing and the ability to access money quickly, when a great deal comes along, is the key to financial  your success.  

Fix and flip or fix and hold!!!!!!!!!!!!!!

We have money to loan.

Email me at DLLLOANS@GMAIL.COM or visit and fill out a contact form.

http://dllinvestmententerprises.us

We can help you with the loan. We offer personal, company and business loans to individuals and companies in severe need. Apply now and get your financial problems solved. The interest rate is 3% yearly. Contact us via e-mail: vatlfunding07@gmail.com

Need a Loan? - We Are Here to Help! Contact Us

Have you been looking for financing options for your new home purchase, construction, real estate loan, refinance, debt consolidation, personal or business purpose? Welcome to the future! Financing made easy with us. Contact us as we offer our financial service at a low and affordable interest rate of 3% for long and short loan term.Interested applicant should contact us for further loan acquisition procedures at stevesmart.mbod@gmail.com

RSS

© 2021   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service