Gerald West
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ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT
4 Replies

     I submitted a loan request for a multi family project structured with 30% down. I was contacted back and the lender said the deal was doable but that I would need a partner with multifamily…Continue

Tags: loan needed, partnership, multifamily

Started this discussion. Last reply by Robin Apr 16.

 

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Robert Parker Brown commented on Gerald West's blog post ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT
"If you are willing to start over, it may be worth it to get another lender.Lower down payment. A management company will provide all of the relevant experience. Plus get a market rate. I am a broker with experience in the MF market financing."
May 4
Robin replied to Gerald West's discussion ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT
"Dear Gerald, HIRE or Prepare the BIO within the Summary or YOUR Purchase Plan of that Executive with experience CERT. Property Manager ** or CPM  ( call larger MF to hire P T or look at Indeed or other job site) Interview about 3 or 9 and find…"
Apr 16
Robert Glen replied to Gerald West's discussion ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT
"Sir I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument (BG/SBLC et al.) to you in accordance to our terms and condition. Our bank…"
Apr 10
Robert Glen replied to Gerald West's discussion ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT
"GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE. OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE. I am direct to a provider who has recently issued banking instruments…"
Apr 10
rodrigo santana replied to Gerald West's discussion ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT
"LOAN OFFER / ALSO WORK WITH BROKERS.The opportunity is here for you to get what you have been looking for, the development and growth of the economy depends on investment and all business/startup needs funding to expand. It is time to move forward…"
Apr 3
Gerald West posted a blog post

ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT

  I submitted a loan request for a multi family project structured with 30% down. I was contacted back and the lender said the deal was doable but that I would need a partner with multifamily experience. I structured the project with 30 down over 3 million and noi after mortgage and expenditures of 127,000+ /year and 457,000 cash on hand after close with another 6 months reserves all expenditures. My credit not so bright and would be my first deal. Can someone advice me of how I can get a deal…See More
Apr 1
Gerald West posted a discussion

ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT

     I submitted a loan request for a multi family project structured with 30% down. I was contacted back and the lender said the deal was doable but that I would need a partner with multifamily experience. I structured the project with 30 down over 3 million and noi after mortgage and expenditures of 127,000+ /year and 457,000 cash on hand after close with another 6 months reserves all expenditures. My credit not so bright and would be my first deal. Can someone advice me of how I can get a…See More
Apr 1
Gerald West is now a member of COMMERCIAL REAL ESTATE PROFESSIONALS & INVESTORS GROUP
Mar 25

Profile Information

Location (City, State) (Province, Country)
Dallas Texas
A Bit About Me
12 year investor former mortgage loan officer
Which Best Describes You? (Pick All That Apply)
Large Investor =>100K
What Do You Need
Discuss with other investor of projects available to invest and network
What Do You Offer
Investment experience and deal offers to networkers

Gerald West's Blog

ADVICE FOR CLOSING ON A MULTIFAMILY PROJECT

  I submitted a loan request for a multi family project structured with 30% down. I was contacted back and the lender said the deal was doable but that I would need a partner with multifamily experience. I structured the project with 30 down over 3 million and noi after mortgage and expenditures of 127,000+ /year and 457,000 cash on hand after close with another 6 months reserves all expenditures. My credit not so bright and would be my first deal. Can someone advice me of how I can get a…

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Posted on April 1, 2018 at 5:18am — 1 Comment

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At 2:40am on March 26, 2018, Sophie Reyer said…

Good Day,

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Have a nice day

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Anna Kokou.

 
 
 

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