Financing in College Park>Question Details

Vijay Shah,  in Charlotte, NC

. What kind of loan can I get on a cash flow property? i.e. % of appraised value and rate of interest.

Asked by Vijay Shah, Charlotte, NC Sun Mar 15, 2009

I am new to US and therefore have no credit history. I have been a real estate developer in another country all my life. What kind of loan can I get on a cash flow property? i.e. % of appraised value and rate of interest.

Help the community by answering this question:


The investors I am working with at this time are generally seeing a LTV or 70-80% and rates about 9 percent. One area they are finding particularly troublesome is the limit of 4 properties in a personal name. I would recommend buying properties in the name of a corporation or LLC not only for liability protection but then you can have more than four properties with mortgages.

If you would like the name of a lender I have used let me know and I will pass on his contact information.

Good luck

1 vote Thank Flag Link Mon Mar 16, 2009
Hi Vijay..Welcome to the US of A!!! Dennis is quite accurate in his answer. Most lenders require investors to put down at least 20% on an investment home in this market.

This was not always the case, however since the sudden shift in the r/e market, lenders have been very stringent on this rule...For several reasons that I'm sure as an investor you're aware of...If you would like more clarification, please don't hesitate to contact me

Thanks for your question, it was a good one!
Web Reference:
0 votes Thank Flag Link Mon Mar 16, 2009

I have actively worked with several real estate investors in the College Park area and, as you probably know, there are some great opportunities out there right now. Lending approval criteria & downpayment requirements has become more strict and interest rates are probably going to be a little higher on an investment property vs. one that you would be purchasing for a primary residence. I'd be glad to recommend to you some lenders that I have worked with in the past so that you could get a better idea of what financing options might be available to you. Also, if I can be of any assistance in your investment search please do not hesitate to contact me - I'd be happy to put you into contact with a couple of investors that I have worked for.

Best of Luck!

Dennis Skelly
Ricker Realty
202.438.2091 (mobile)
0 votes Thank Flag Link Sun Mar 15, 2009
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