I have a deal on a 192 unit apartment that consist of 1 and 2 bedrooms
Apv $ 5mil
Purchase price is $ 2.43mil
Rehab cost $ 800K
I do not have good credit but I do have $ 630K that I can bring to the table. The property that I am buying is free of debt service so I would be willing to let the lender hold the deed for colateral for this deal. Do anybody know of any lenders in the memphis tn area that would loan 65 LTV on this deal? :help