Are you trying to purchase a multifamily property with a low occupancy rate? Banks are reluctant to lend on a property like this. They are also hesitant to lend on a poorly-maintained property. If any of this rings true, a bridge loan may be just what you need.
In this video, you will learn what a bridge loan is and how it can help you get the financing you need to improve your multifamily property and grown your rental income and real estate portfolio.
Here are some key benefits of a bridge loan:
• Low occupancy
• Property Condition
• Don't meet networth or liquidity requirements
• Need to close fast
You can utilize a bridge loan for many reasons. It is not always about the rate when it comes to making lending decisions. Remember, interest rates on real estate loans of all kinds are at historic lows. Now is the time to explore bridge loans, especially if you meet any of the criteria above.