I was just wondering if anyone can help me with this. Can one finance a commercial apartment deal with 80% conventional with seller second at 20%. Or 75% conventional with 25% bridge loan to do a no money down deal or can i use all three ways to acquire a property. Seller is willing to carry 15% for me so i can obtain the property. What can i do here. My first commercial apartment deal. Please help
a couple years ago that would have been no problem - in today’s world it’s going to be tough
that doesn’t mean it can’t be done - structure it in such a way that the bank can’t turn it down and they’ll do it - aim for a 1.8 dscr at the very least I would say
good luck
No bank is gonna let a buyer obtain 100% financing on an apartment building if they’re gonna put a 1st on it. You have to hide the VTB if it represents the full difference on another property or something of value until the apartment building can be reappraised down the road or split the VTB on both properties. Banks typically have mortgage clauses where you require their approval before you can put a second mortgage on a building which they have a first on.