No Money Down Real Estate Investing Course
Learn How To Buy Income Properties Without Risk, Good
Credit, Money Or Tenants!

Click here for more information
Welcome, Unregistered.
User Name
Forum Links
Site Navigation
Real Estate Resources
Go Back   Real Estate Investing > Real Estate General > Yahoo Investing Group
Thread Tools Search this Thread Display Modes
Old 09-28-2005, 08:40 AM
Posts: n/a
Default Acquisition/Rehabilitation Bridge and Mezzanine Loans on Multifamily Properties

A larger Eastern-based mortgage banker ---though lending nationwide--- has an
interesting program on existing multifamily projects.

Their typical projects are to be in excess of 100 units; well located, and of
good construction quality.

Underwriting profile :

* Sizes at $2 million to $25 million.

* Loan-to-value at 95%.

* Terms up to 24 months.

* Pricing at 30 day LIBOR plus 500 basis points.

* Recourse above 80% LTV, with standard carve-outs..

* 1.15x debt coverage ratio minimum.

* Generally, interest only.

* A clear preference for a value being created.

* Fees at four points.

* Rehabilitation costs to be no more than 20% of project costs.

If you wish to investigate this source of financing on an acquisition, please
call Mr. Margolin of Chilmark Associates Inc. at 203-353-0897.

[Non-text portions of this message have been removed]
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

All times are GMT -8. The time now is 06:23 PM.

Powered by: vBulletin Version 3.0.8
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 2.4.0
Copyright 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.