I am looking for lender to finance my 12-unit apartment project
2006-11-09 03:17:46 · 5 answers · asked by Ed b 1 in Business & Finance ➔ Renting & Real Estate
you can inquire very effectively
2006-11-09 03:19:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Commercial loans are judged in a completely different manner than residential property. The items meeded are a rent roll (list of tennants and what they pay each month), an income and expense report for the property, last 2 years personal taxes with schedule of real estate, and an appraised value.
I train loan officers to handle commercial real estate loans.
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2006-11-09 04:41:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your local bank might have a commercial center or you can start looking on your own or through a mortgage broker. Commercial loans require a higher ltv (70%) than residential loans so be prepared to shell out alot of cash.
2006-11-09 03:57:10 · answer #3 · answered by tianaramal 4 · 0⤊ 0⤋
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2016-10-03 11:09:17 · answer #4 · answered by riesgo 4 · 0⤊ 0⤋
Since it's a Real Estate Project, any Bank should be happy to lend you the money at very low rates.
Please meet your Bankers and take their advise,
Have a nice day.
2006-11-09 03:22:10 · answer #5 · answered by Anonymous · 0⤊ 1⤋