I have an eight (8) units apartment building in need of rehabbing. Could someone advise me on where I can get the loan?

Asked by Johnny Wilson, Birmingham, AL Sun May 26, 2013

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Aaron Sims, , Birmingham, AL
Fri Jun 21, 2013
I am usually pretty good about watching for Birmingham questions but somehow missed yours till just now. I'm a Realtor here in Birmingham and myself have owned Multi-Family property. Have you had any luck with your quest for financing your rehab? If I can get a little more information from you I may have some contacts that would be interested in financing, or some mortgage professionals that may have a product that would work in your situation.
Are any of the units occupied? How extensive of a rehab? What is the current value of the units and what should they be after rehab?
Feel free to email or call.

Thanks so much!

Aaron Sims, REALTOR®
Real Estate Consultant
Keller Williams Realty, Hoover
0 votes
Ken Champlin, Home Buyer, Willcox, AZ
Thu Jun 13, 2013
yea, sell it for a duplex, done.
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Eric Kelly, Mortgage Broker Or Lender, Birmingham, AL
Tue May 28, 2013
you will need to contact a bank to get a commercial loan. residential loans are capped at 4 units.
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William Wilb…, Agent, Orange Beach, AL
Mon May 27, 2013

A real estate professional in your area, who is an associate of mine, has given me two resources for you to reach out to: First Federal and Cadence Bank. Feel free to contact me for more information.

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William Wilb…, Agent, Orange Beach, AL
Sun May 26, 2013
Hi Johnny,

I am checking into this and may have a resource for you in your area. In the meantime, I would try a local community bank in the area of the project.

Coldwell Banker Alfred Saliba Realty
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