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Real Estate Investing Forums
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NEED FINANCING FOR 36 UNIT APARTMENT COMPLEX
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Topic: NEED FINANCING FOR 36 UNIT APARTMENT COMPLEX (Read 3062 times)
ZLLGL05
Member
Posts: 1
NEED FINANCING FOR 36 UNIT APARTMENT COMPLEX
«
on:
February 16, 2006, 11:53:10 pm »
Hi I am looking for 100% for a 36 unit apartment complex , I have poor credit. Can anyone help ? Its a good buy and a money maker.
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christopher w
Member
Posts: 2237
Re:NEED FINANCING FOR 36 UNIT APARTMENT COMPLEX
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Reply #1 on:
February 17, 2006, 07:51:17 am »
owner financing? with poor credit that is going to be your best bet.
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Christopher W
C-214.923.5781
Rich_in_CT
Member
Posts: 3209
Re:NEED FINANCING FOR 36 UNIT APARTMENT COMPLEX
«
Reply #2 on:
February 17, 2006, 08:04:51 am »
Do you have decent cash reserves in the bank? If not you better start thinking smaller scale, even if the thing is a gold mine that will make many times the mortgage payment.
«
Last Edit: February 17, 2006, 08:05:03 am by Rich_in_CT
»
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rodbrown44
Member
Posts: 20
Re:NEED FINANCING FOR 36 UNIT APARTMENT COMPLEX
«
Reply #3 on:
February 18, 2006, 05:21:59 pm »
when you say bad credit what do you mean, less than 600? 100% funding on commercial is not possible, if you have 600 mid score I can get you no doc program with 90% CLTV that includes a 10-20% second by seller. Bad credit and no cash is not a possibility.
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