Lenders in NJ for a 8-unit? - Posted by Mike in NJ

import · March 18, 2002, 4:18pm

Posted by jesse lena on March 19, 2002 at 12:31:57:

i know of a company that will finance that property what area of nj are you in.

import · March 18, 2002, 4:18pm

Posted by Mike in NJ on March 18, 2002 at 17:18:56:

Here’s the scoop:

Purchase Price - 475K
D/P - 100K

Loan Amount - 375K
Taxes, Utilities, Insurance - 27K
Gross Rent - 82K

I am setting aside 4K for vacancies, and 6K for expenses.
I plugged in the values in the Property Analyzer spread sheet and it has some good IRR.

Now, I need a lender who will finance this 8-unit apartment building.

Any suggestions/Advice.

My FICO is around 780ish…

Thanks
-Mike