Commercial
Is there anyone who knows how to do 90-10 financing on a $25,000,000.00 400 unit apartment complex using a corporation as the borrowing body on the loan and the seller using seller financing for the 10%.
Any suggestion for a new school street smart lender for such a transaction.
There will always be those who try to get something for nothing. Not maintaining your property and trying to dump it off on sec 8 will catch up to you eventually in many ways. Certainly, and most obviously will be the FMV when it comes time to sell (not to mention the repairs, replacements, etc that will be very costly at closing -assuming you get a buyer interested). You will also be forever deeling with unhappy tenants. I have had sec 8 on many occasions and found them to be excellent renters when I did my homework prior to renting to them. Give them the same courtesy you would anyone else, care for their unit the same as any other, and keep your expectations as high as any other -both in the screening process as well in the care of your unit once you rent to them. It will pay off just fine for you!
Lavonc & tumwater thanks for your advice. I appreciate the information very much.
Lavonc & tumwater thanks for your advice. I appreciate the information very much.
Lavonc & tumwater thanks for your advice. I appreciate the information very much.