I need an investment mortgage to buy a sponsor unit in a cooperative apt in Queens. Which lender can help me? I have credit scores 730's.

Asked by Elmoelmo, 11372 Sat May 14, 2011

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4
Annette Levi…, , New York, NY
Sun May 15, 2011
Does the coop allow you to rent out before living in it? If so, I have private lenders who can do this.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sat May 14, 2011
If you plan on renting the unit, make sure the board allows leasing; do review with your attorney all related paperwork before considering the purchase....
0 votes
Allen Bauman, Agent, New York, NY
Sat May 14, 2011
Elmo
Have you checked to see if you can invest in this coop even with a sponsor unit? Most coops do not care for investor owners(unless you were a prior owner/occupant). The board usually tries to maintain strict control and minimize the risk of investors walking away from apartments. Check out the offering statement for the building and call the sponsor to see if they have the right to sell to an investor.
0 votes
William Smith, Agent, NY,
Sat May 14, 2011
Try Chris Pappas At Wells Fargo. 212-805-1002 I've had some dealings with him and found him to be honest and creative.

Bill Smith at Manhattan Apartments

646-784-4878
0 votes
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