Selling multi-unit note at closing - Posted by DavidV


#1

Posted by John Behle on November 11, 1998 at 17:59:12:

Two notes is always better. Blanket loans are hard to sell. Some note buyers may want you to co-sign, but it will depend on the LTV ratio of the note.

In this case, if you are talking an 80% LTV on an apartment building, you might have to look real hard for a buyer. Find a potential buyer first and you may need to go to a lower LTV like 60-70% depending on your market and whether you are dealing with a local or national buyer.


#2

Selling multi-unit note at closing - Posted by DavidV

Posted by DavidV on November 10, 1998 at 16:12:27:

If i purchase 2 multi-unit’s from an owner through a trust and an LLC would a notebuyer want me to sign personally for this? Would it also be advantageous to set up a LLC for each apt. building?

With a $1,000,000 price for both, would a notebuyer buy them as a package selling a $800,000 1st for 30yrs. at8%?
Any advice appreciated as i have never sold a note at closing.