Asked by Brian, King of Prussia, PA • Mon Nov 28, 2011
I own a couple rental properties and have found that I enjoy taking care of them and have generally had positive experiences with tenants. I am getting married next year and have been looking to purchase an apartment building that we can live in and fix up. An interesting 6 unit apartment building in our ideal location has come on my radar, however, it would almost entirely need to be gutted (2 out of 6 units are currently liveable and are rented). From a commercial financing perspective, what are my options? Am I looking at a fixed or variable interest rate loan? What are my options for financing the gutting and construction activities? What APR range am I looking at?
Thank you in advance for your time
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