• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

6 Units Multifamily

Another Successful Funded Loan

  • $1,025,000
  • 5 Year Fixed @ 3.875%
  • Purchase-64% LTV
  • 6 Units
  • Multifamily Property
  • Rancho Cucamonga, CA

ASSIGNMENT:

These were first time investors on Apartments referred to us by the selling agent, with whom we had just closed a transactionn for one of his multifamily listiings.  He liked the way we worked so he gave us a chance at this transaction. The buyers recently sold some units they had and decided to give 5 units and up a chance. Since they had never applied for an apartment loan we had to educate them on the differences in residential to commercial lending. 

CHALLENGE:

The clients had limited funds coming form their downleg exchange property and they still needed to have sufficient reserves to meet a lenders requirements and those two facctors pretty much dictated their purchasing power. We analyzed multiple properties for them before they finally got an accepted offer. For the transaction I think the biggest challenge was finding the replacement property.

 

 

 

SOLUTION:

We structured a  nice 5 year fixed loan for the clients and closed quick.