I would like to find someone who would like to help me with finding information out about financing apartments. I am looking to start small. We have access to investors who are willing to put up downpayments. Also, we have a business plan but want to make sure it wont get laughed at by a banker.
Thank you
Max
Full Version: Looking for info on financing apartments
Max:
First of all, do not discount the power of laughter
You will see a lot of feedback in this site about the loan-to-value percentages, and the debt service coverage that most bankers are looking for. There is also some information about the income approach to valuation. If you have some specific deal in mind, you can post the numbers and get feedback.
I don’t think you need a business plan for this type of transaction, financing income producing property in the commercial side might be a little more complicated and customized than residential lending, but it is the most cookie-cutter type of financing that commercial lenders do.
Good luck
First of all, do not discount the power of laughter
You will see a lot of feedback in this site about the loan-to-value percentages, and the debt service coverage that most bankers are looking for. There is also some information about the income approach to valuation. If you have some specific deal in mind, you can post the numbers and get feedback.
I don’t think you need a business plan for this type of transaction, financing income producing property in the commercial side might be a little more complicated and customized than residential lending, but it is the most cookie-cutter type of financing that commercial lenders do.
Good luck
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