Apartment Financing

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Posted by Dennis Redding on November 01, 2009 at 21:40:20:

I was wondering if anyone had any suggestions about companies that focus mainly on apartment financing.

I have located a 33 unit apartment complex that is listed for $650,000 which is way out of line for the current situation. There is currently only 15 units rented out and many of the units do not have the central air working. They are on bedroom apartments located in a very good part of town that rent for $380.

I was going to look at offering $300,000 with a possibility of having to put $200,000 to fix it up. They received two offers Thursday and I am going to call on Monday to see if anything was accepted, if they were not I am going to have to provide a proof of funds letter in order to make an offer, so I would like to find someone who would be able to move quickly.

Thanks

Dennis Redding

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