Bridge Loans for Small Multifamily Acquisition
I am under contract to buy a 4plex. Units are all rented and the rents are well under market rents. My plan is to rehab the exterior and interior units and furnish them. I will rent as short term and mid-term rentals. What’s the best way to get the highest leverage? I own 2 STRs right now and also have flipped 2 properties over the past couple years. So I do have some experience. Purchase details below.
Purchase price $495,000
Rehab budget $60,000
ARV $700,000
Credit score: 740 plus
Timestamps
[00:49] For residential, use standard bridge or fix and flip financing
[01:05] How much loan amount could you do?
[01:16] Beau recommends a two-year bridge loan, depending on how the numbers work
[01:32] Fix the property and occupy from a short-term or midterm basis
[01:50] What’s the best way to get the highest leverage?
[02:44] Refinance as non-owner occupied
[02:50] A perfect example of doing a fix and flip loan
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#MultifamilyInvesting #bridgefinancing #bridgeloans
_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
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Bridge Loans for Small Multifamily Acquisition
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