ATTN: GREATER NY AND CHICAGO AREAS! Multi Family Rehab Program

[Stephanie Gephart McGowan]

We have a new program for the NY and Chicago areas and slightly into the fringes of both cities.

This is a milti-family(5+) unit rehab program. They are 1-2 year terms from 250K to 1.5K. The fund will provide up to 75% of the acquisition costs and 100% of the renovation costs up to 75% of the ARV. The underwriting will take in to account the viability of the client qualifiying for permanent financing. This means clinets must have a faily clean credit history. Rates are in the 6's compared to most rehab's that are run between 9-13%. The fund also has permanent financing lined up with rates in the 4's.

 

Clients must have a track record in similar transactions.

 

Please reach out to me to see if I can help you. Also, if you or your client does not qualify for this program, we have others.

 

Stephanie Gephart

[e-mail]

973-985-5535

[Gilbert Meilleur]

We've closed cash on a 19 unit in Chicago and are looking for funding on this project. The purchase price was $300,000 and the rehab is about $400,000 with an ARV of $1.5 million.  There is a waiting list of VA tenants ready to occupy these units. 

Gilbert Meilleur

[e-mail]

855-832-6678