Let’s say you find a really nice multifamily property which practically guarantees a significant return on investment. But, you’re unable to obtain the necessary funds to meet the seller’s timeframe for ownership transfer. For various reasons, you’re also faced with a situation where financing options are unavailable to you.
Investors who are unfamiliar with alternative financing may miss out on valuable opportunities that require prompt financing, but those who are familiar with it can seize such opportunities without delay or worry.
Bridge loans are useful for interim financing, especially for multifamily properties while finalizing permanent loan options. Interest rates may be higher than what you’d expect, but higher upfront fees should not be the focus. Instead, concentrate on the long-term profit you’ll be able to generate from that lucrative investment.
Are credit issues causing you problems or are you running into trouble with consistent cash flow? Is a short closing period imperative? A multifamily bridge loan could help overcome borrowing challenges and delays for various reasons.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. For over three decades, we have specialized in private money real estate loans and have prided ourselves on delivering personalized service with low rates and closing costs to our esteemed clients. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.