Seasoned real estate investors are purchasing more and more apartment complexes, wherever you reside in this country. The multifamily-apartment building market is well, even though we have economic challenges. The 1031 discussion was in limbo last year, you may ask your CPA if the 721 Exchange is a fitter option for your commercial real estate investment.
Investors and Beginners
Lenders prefer seasoned real estate investors, with proven results on their ROIs. If you’re a beginner, you will be required to have impeccable credit, a larger down payment, a high occupancy rate of 75% or more, and a conservative debt service ratio. A minimum of $250,000 and up is required for your apartment loan request, we broker apartment loans in these selected areas:
• All Florida counties, especially Collier County: Naples FL and Marco Island FL
•Fort Lauderdale, FL, Pompano Beach, Hollywood FL, Broward County and surrounding areas
• Lee County: Bonita Springs FL, Estero FL and Fort Myers FL, Cape Coral
• Miami FL, North Miami Beach FL, Dade County and surrounding areas
• Palm Beach County:, Boca Raton FL, Jupiter FL, North Palm Beach FL, Palm Beach Gardens, Jupiter, Palm Beach FL and surrounding areas
• Southern California, Laguna Beach, Newport Beach, Orange County, Greater Los Angeles, Los Angeles County, San Diego County
Financing Fractured Condo
Our consultations are absolutely free costs for commercial lending. Organized files help the process of your fractured condo or apartment loan request:
• Credit score of 660 or better, higher the credit score, the better the interest rate
• Validation the HOA is in good standing
• HOA insurance policy
• CC&Rs document
• Current profit and loss statement on the community
• Operating Income Statement
• Rent roll
Not All Fractured Condos are Created Equal
Fractured condos are not for every real estate investor, especially if you’re a beginner in investing into a large apartment building with over 20 units or more. Not all fractured condo projects are good investments, as an investor, analyze the demographics of that area and also your profit margins before making any written commitments. Select a smart realtor or investment firm that specializes in commercial apartment buildings, they are an asset for your fractured condos investment.
For more information on how we can best locally serve your Florida and California apartment loan, multifamily loan and fractured condos loan request, please fill out the online contact form about your concerns or give us a call at 855.477.9007. Read what our valued clients have to say about First Pro Capital on our Testimonials page .
~ Allow our team of professionals to assist you.