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Finding it impossible to get a rehab loan on a mulit-family loan?

Most people have a really hard time with this for several reasons:

1) occupancy is not up to par

2) banks won't lend based on the risk

3) banks and lenders are going to want to see "pre-leased" contracts while your project still looks horrible.

Fear not! I have a funding source that loves these types of projects. Often they are the best deals on the market, but the banks and other lending institutions pass on them for the above reasons. My funder doesn't care. If you are having difficulty getting a rehab/construction loan on a multifamily purchase or refinance. Please call me at my office at 281-852-9422 or drop me an email at brian@walkercf.com

The beauty of this loan is that is a one-time close....you don't have to take out two loans...a construction loan and then a permanent loan.

Good Selling!

Brian Walker

Walker Commercial Funding.

Posted by Brian Walker on 02/03/2008 12:45 AM

Comments (1)

rehab loans for multifamily, rehab loans, multifamily construction loans, one time close rehab loans

Post is included in group: Commercial Lending
Post is included in group: WEIRD LOAN AND COMMERCIAL MORTGAGE FORUM
Post is included in group: South Florida Commercial Real Estate
Post is included in group: Houston Commercial Real Estate

1 Comments on Finding it impossible to get a rehab loan on a mulit-family loan?

FEB

2008

Brian, I am a realtor in Ohio in need of a rehab loan on a property I own outright. We want to buy the one next door and do both. These properties are selling at a third of their market value so LTV will be under 50%. My e-mail is hotbuycls@hotmail.com. Thanks, Andy

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