With the 10-year at 3.8%, I do not see anybody being able to secure sub 5% rates in the near future. All of the debt quotes I've gotten in the past couple of months have been +5.75% with leverage capped in the 60s Thinking you could find this sort of debt package in our current environment is just wishful thinking. DM me when you need to sell
No chance. I'm sorry, but for a portfolio of this size you need a sizable lending institution and I haven't seen a single one that is quoting in the sub-5%'s since November (even sub-6% is getting hard to find). Also haven't seen anyone sizing on IO that tight, either, so proceeds might be a challenge. How much longer are your rate caps for?
when did you get the quote on the 4.75%? I can't imagine that was recent. Did you lock rate back in June/July (some relationship lenders were in that range then)?
Depending on affordability, GSEs may be able to offer a product as such. Especially for the loan size, they may be incentivized to be flexible. PM if you want to discuss more.
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With the 10-year at 3.8%, I do not see anybody being able to secure sub 5% rates in the near future. All of the debt quotes I've gotten in the past couple of months have been +5.75% with leverage capped in the 60s Thinking you could find this sort of debt package in our current environment is just wishful thinking. DM me when you need to sell
We closed last month at 4.75% for a single property. For a portfolio, somewhere out there is a vehicle for what we need 😉.
And no chance we are selling!!! It is a beautiful portfolio, just not going to cash flow for a few months to a year.
No chance. I'm sorry, but for a portfolio of this size you need a sizable lending institution and I haven't seen a single one that is quoting in the sub-5%'s since November (even sub-6% is getting hard to find). Also haven't seen anyone sizing on IO that tight, either, so proceeds might be a challenge. How much longer are your rate caps for?
when did you get the quote on the 4.75%? I can't imagine that was recent. Did you lock rate back in June/July (some relationship lenders were in that range then)?
If you know if a product that can meet us on the dscr, we are flexible on the rate!
Depending on affordability, GSEs may be able to offer a product as such. Especially for the loan size, they may be incentivized to be flexible. PM if you want to discuss more.
Thank you!
DM sent
Bulk loan fannie/freddie is best bet
Maybe it’s because I’m younger but the emojis in this thread are killing me.
I'm a lot younger then you would guess. But I like being old fashioned. I kinda have a boomer mindset 😂 for better or for worse.
How much value add do you need to do?
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