Package Financing - Posted by John

Posted by Jesse on July 24, 2004 at 20:00:41:

Are you putting these loans in your name or a company name? I may know a few lenders that will do the financing.

Jesse

Package Financing - Posted by John

Posted by John on July 24, 2004 at 06:34:25:

I am looking for funding for a 30 home package, 22 from one seller and 8 from another. All are located in Michigan. A nonrecource loan is deserable. At 7% over 30 years the debt service ratio is about 1.6 and the cap rate 14. I appreciate any leads.

Re: multiple property Financing - Posted by Matthew

Posted by Matthew on July 25, 2004 at 17:18:27:

John-
do you have the experience? assets? income? and credit to handle such a transaction. don’t take this the wrong way but this is a major purchase. if you don’t have a lengthy track record in rentals or a large asset base - downsize to 2 or 3 at first.I have done large package deals for clients, just FYI.