Use Park Park Place Finance, LLC Signature Multi-Family Bridge loan Product to purchase, refinance, or rehab your next multi-family investment property on 5-50 Unit properties. Since 2006, we’ve closed over $1 billion in loans, many of which are 5+ unit multifamily properties.
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Park Place Finance Multi-Family Loans are designed for Urban and Suburban properties only in 42 states. We do not lend in rural areas,and only lend in MSA’s above 50,000. Our goal is to lend on properties in areas that have a high probability of renting quickly. Park Place Finance, LLC offers highly competitive leverages on Multifamily 5+ Unit Properties.
Park Place Finance eliminates junk fees and has straight-forward pricing when it comes to fees associated with closing your loan.
Our common-sense underwriting process focuses primarily on the property’s value and income potential rather than the borrower’s income verification or tax returns. We primarily look to ensure once your rehab is completed, that there is a viable long term exit loan available for the property. That could be a FNMA/FRMC loan, or a local bank loan post property stabilization. To speed up the approval process, please prepare to provide us with the following information:
Close Fast (TYPICALLY 10-21 Business Days)
Competitive Rates (Rates from 10.99-12.99% Interest Only)
Nationally Trusted (Over 1 Billion Funded!)
We’ve closed over 4,000 loans and have funded over $1 Billion since 2006. We know how to help make sure your next project is profitable with our combined 50+ years of lending experience among our executive team. Call us today to help make your next investment property a success!
A multi-family hard money loan is a mortgage designed to finance properties with multiple residential units that are small to mid size apartment buildings with five to fifty units. Real estate investors generally use hard money multi-family loans to purchase, refinance, or renovate multi-family properties. Hard money loans are popular with investors because they are fast to approve and fund, have flexible lending criteria, and are collateral-based.
The required credit score for a multi-family loan varies based on the lender and the type of loan. Loans from hard money lenders focus more on the property’s value and potential income, allowing them to be more flexible with credit scores. Park Place Finance requires a minimum credit score of 680 for multi-family loans.
Multi-family properties can be an excellent investment, generating significant rental income for the investor and a steady cash flow to cover mortgage payments. Managing several units under one roof can be more cost-effective than managing multiple single-family homes, and multi-family properties may appreciate value over time, contributing to long-term wealth. Additionally, with multiple units, the risk of total income loss is reduced since the property is less likely to be vacant at any time. However, location and quality of the property are keys to cash flowing a successful multifamily property.
A reasonable rate of return on a multi-family property typically ranges from 5% to 8% annually, depending on factors such as location, property condition, and market conditions. This is commonly known as a CAP rate.
This rate of return is often evaluated using metrics like the capitalization rate (cap rate) and cash-on-cash return.
Investors should aim for a cap rate that balances risk and return, with higher cap rates indicating higher potential returns.
