Am looking for this comercial animal does it exist?

Financing, Hard Money Lenders, Private Money
1

Ok I have a proprty with a full loan package complete with appraisal and all.

75 unit apt complex 1.5 as is value
2.5 after repair value subject to approximately 250k in rehab.

Buyer has property under contract for 1.5 putting 150k down payment and seller carryback of 150k

Looking for someone to lend 1.3 plus 250k in repairmoney to remain in escrow to be drawn upon as repairs are done.

This of course works in residential but am having a dickens of a time finding some one to do this in commerecial.

Please advise.

2

Where is property located??

3

Florida

4

Have you looked into rehab loans? They lend subject to and pay your rehab contractors in draws while the repair it.

5

Thats what I am looking for. Who does that for commercial? (75 unit complex)

6

You can get short term hard money for the construction costs for commercial.

Patti Porter

7

Who does that?