Who has funding for multifamily properties?

[Amy Thornton]

This post is here for the many inquiries we get seeking multifamily funding. For those lenders and brokers on this website with funding for apartments, please respond and let me and everyone else here know what you have to offer!

Leaving LTV, credit score, and downpayment requirements would be great.

Thanks!

[Steve Drajke]

can get Hard Money for the right deal, funding for commercial projects.

also short sales and stop foreclousures

Give Steve Drake a Call 769-257-5328

[TN NGHIEM]

Hi there

I need  funding for buying a rehab house in San Jose, CA, the house need major rehab, it is very hot property for sale right now. I need a proof of whose account the funds for an all cash offer will come from to send with Contract, the list price is : $350000, the Market estimate: $366000 to $488,000. Look forward to hear from you

Regards

Tn Nghiem

[e-mail]

[DONALD G ESTILL]

send me your e mail and i will send you some info  Don Estill   

[e-mail]

[Steve Gay]

Amy,

We are a direct lender for a group of private equity groups, closing loans nationwide from 500k to $10 Million plus.

The advantage we have over traditional refi and purchase of multi-family traditional lenders include, but are not limited to 1) Secondary markets allowed 2) Higher LTV's to 80% 3) Better & longer amortizations, including 30/30, 15/15, and 10/10 4) Non-recourse and cash out available. Rates start in the high 4's. Other CRE we do include Office, Retail, Industrial, Self Storage, Mixed Use, Owner User.

If you need a bridge loan, all the advantages above apply (these are all interest only loans, so amortization does not apply), and the rates beat any hard loan you can find, and most traditional loans with interest rates in the mid 7's.

If you have been turned down by a traditional lender for one of the above issues, and you have a loan that makes sense; then we could be of great assistance.

Steve Gay - Just shoot me an email at [e-mail] or call 303-420-8114

[Kyle Tanner]

I'm wondering, I have been contacted by Ken Woods and see that he has 180 posts on this site.  Has ANYONE done business with him and can reccomend his services?

I'm always a bit more cautious with forgeign investors, and more so people who discuss money but can't produce a website or only uses a free email system like gmail.

[Kyle Tanner]

I'm wondering, I have been contacted by Ken Woods and see that he has 180 posts on this site.  Has ANYONE done business with him and can reccomend his services?

I'm always a bit more cautious with forgeign investors, and more so people who discuss money but can't produce a website or only uses a free email system like gmail.

[T. J. Morrow]

Amy,

Great Eastern Investments is a commercial mortgage broker.  We utilize various funding sources but currently one of our insurance companies has asked us to secure opportunities for their portfolio.  Briefly, the program is as follows:'

Amount:  $1,000,000 to $7,000,000.  Larger participation loans are available.

Property Types:    Shopping centers, office buildings, medical clinics, retirement homes, apartment buildings, warehouses, funeral homes.

Amortization Term:  25 years maximum, with balloon payment required at 5 to 25 years.  Amortization period tied to length of income leases, if any, and the property’s risk profile.

Interest Rate:  Generally 180 - 250 basis points above the 10 year CMT index, with fixed rates available out to 20 years.  Fixed rate loans with mid-term interest rate adjustments are also available.  Property & borrower risk profile are considered in setting rates.

Adjustments in Rate:  Tied to a spread over the 10 year CMT and pre-set at the time of the loan commitment with a floor rate equal to the initial interest rate.

Maximum Loan:  Generally 75 percent of acquisition cost, but capped at 80 percent of current MAI appraisal value.

Cash-Flow Ratio: Generally 1.25 DSC required.  Enhanced financing structures can be used for marginal loans.

We would be pleased to work with any borrowers who need financing through a good life company.  You can contact me via email at [e-mail]

T. J. Morrow, CMC

Great Eastern Investments, LLC

 

 

[Marc Rabkin]

Rodeo Capital, Inc. closes $2,500,000 Purchase Loan on 212 unit Multifamily Development in Decatur, Georgia

DEAL HIGHLIGHTS: * Upside Potential with current 76 Occupancy * Complicated deal structure closed in less than 3 weeks * As-Is Debt Coverage Ratio of 1.387x * Stabilized value of $4,900,000 (Low LTV)
The Colony Ridge Apartments are a 212-unit, 20-building apartment community spanning just under 12 acres, located in Decatur, Georgia. Colony currently operating at 76% occupancy and has attractive mix of 94 1-bdrm/1bath, 80 2-bdrm/1 bath and 38 3-bdrm/2baths totally 214,3000 rentable square feet. New loan from Rodeo Capital, Inc. enabled the borrower to execute on his renovation and lease-up strategy.


To View this and other recently closed transactions; please visit our Recent Fundings Page on our website at:

http://rodeocapital.com/rodeo/recent-fundings


To learn more about this loan or our overall lending capabilities, please contact Marc Rabkin at 310-909-7334 or [e-mail]

[Steve Gay]

Amy,

We are a direct lender for a group of private equity groups, closing loans nationwide from 500k to $10 Million plus.

The advantage we have over traditional refi and purchase of multi-family traditional lenders include, but are not limited to 1) Secondary markets allowed 2) Higher LTV's to 80% 3) Better & longer amortizations, including 30/30, 15/15, and 10/10 4) Non-recourse and cash out available. Rates start in the high 4's. Other CRE we do include Office, Retail, Industrial, Self Storage, Mixed Use, Owner User.

See attachments for particulars.

Steve Gay - FairchildUS Regional Director  [e-mail] 

[Steve Gay]

Amy,

We are a direct lender for a group of private equity groups, closing loans nationwide from 500k to $10 Million plus.

The advantage we have over traditional refi and purchase of multi-family traditional lenders include, but are not limited to 1) Secondary markets allowed 2) Higher LTV's to 80% 3) Better & longer amortizations, including 30/30, 15/15, and 10/10 4) Non-recourse and cash out available. Rates start in the high 4's. Other CRE we do include Office, Retail, Industrial, Self Storage, Mixed Use, Owner User.

 

Steve Gay - FairchildUS Regional Director  [e-mail] 

[Darwin Fielding]

If you are looking for a straight forward no 'black box' required non-owner occupied residential loan, I work with lenders that can either go as low as 500 Fico or straight asset based.  We can do Acquisition & Renovation and Cash-out Refinance.  No upfront fees.  Deal just needs to make sense. Email me for Terms.  [e-mail]

 I also have a commercial lender that is asset based that has $18mm he is trying to place this month.

[Darwin Fielding]

If you are looking for a straight forward no 'black box' required non-owner occupied residential loan or asset based commercial loans, I work with lenders that can either go as low as 500 Fico or straight asset based. We can do Acquisition & Renovation and Cash-out Refinance. No upfront fees. I've been working in real estate, lending and venture capital for 13 years. I have helped finance over $40mm in real estate.

DEAL JUST NEEDS TO MAKE SENSE.

RESIDENTIAL terms range depending on property, location and borrower:
-Residential Asset based to non-prime lending w/min of 500 Fico
-65%-75% LTV
-Acquisition/Renovation 4-6 months
-Cash-out Refi 3yr
-10% - 12% rate

COMMERCIAL:
- 65% LTV on cash flowing properties (exceptions for great deals).
- 60% LTV on all non cash-flowing properties (raw land may be an exception).
- Min. loan amount $1.5 M, max. loan amount $10 M.
- Terms range from 3 months to 18 months with extension available.
- Can fund with-in a 7 to 14 day period.
- Purchases, refinances, construction, rehab, cash-out, etc
- Asset based

To get specific terms go to our website and fill out a Loan Summary Sheet. wwwProvidentMng.com

or email me [e-mail]