Financing in Clear Lake>Question Details

Kuleen, Real Estate Pro in Houston, TX

Need Financing $812.5K purchase price will put 20% down. This is an investment property condo purchase.

Asked by Kuleen, Houston, TX Mon Sep 22, 2008

Building is Fannie Mae approved and above 51% occupancy. My lender could not finance the project because there are no comparables within a 5 mile radius. The nearest comparables are 15 to 22 miles away. The project sits on the bay. If you feel that you can do this please message me, thank you! I have the appraisal ready and it can be transfered in your name.

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Sean... please call me if you feel you can get this deal done. Interest rate does not matter at this point. I just need to get the deal closed. Property has 80 units total and FNA approved. Here is the condo website. http://www.endeavourcondo.com/

713 821 9738
0 votes Thank Flag Link Mon Sep 22, 2008
What are the exact details of this property. Without giving up your great deal. I know sources of financing with 20% down, but you're probably looking at 6.6% interest. I know a friend that just got a similar deal for about that, but it was on Miami Beach with a lot of projects in the works. It has about a 40% occupancy rate.
0 votes Thank Flag Link Mon Sep 22, 2008
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