Florida Apartment Building Lending, Winston Rowe and Associates
With a diverse selection of lending options. Winston Rowe and Associates delivers financing programs for Florida apartment buildings that is tailored to your individual needs and investment goals.
By: Winston Rowe and Associates
The first thing you need to do is to take a look at the current equity that you hold in your apartment building. Apartment building lenders generally want a cushion of at least 25% to 35% for a refinance.
Secondly, you will have to prove the rental property is actually profitable. For this, you will want to prove that you have a long history of dependable rental collections, a current long-term lease, and a strong rental rate. These three things are good indicators that the income collected from the property is likely going to continue to be dependable, making the property a good investment and again reducing the chances that you will default on payments.
If you can prove that the rent is dependable, and you have plenty of equity then it's time to start learning more about the process for refinancing and what the options and rules are.
It's worth consulting with Winston Rowe and Associates they have many different lenders that they work with making sure you have a solid understanding of not only the process but the different guidelines that their lenders have and the particular requirements that you will need to meet to qualify for refinancing.
In this way, you will be able to gain a complete understanding of all potential opportunities as they relate to you and your investment strategy.
Winston Rowe and Associates deploys commercial capital for the entire state of Florida for purchase, cash out, refinance and construction.
They've been in business since 1982. You can review them online at https://www.winstonrowe.com
Winston Rowe and Associates