Expert: Brian Bocchieri - 3/31/2008

Question
I currently have land w proper zoning in place.  I have equity, but in todays banking climate that is not enough.  How do I obtain a construction loan based on equity?  Would also like to purchase existing apartments next door.

Answer
Hello Lori;

We have some programs that may be able to help.  Where is the project located?  What is the size of the property?  How many units are you approved for? How many are you looking to build?  What is the value of the land now?  Have you invested in soft cost (engineering, architects...)? What is the size of the complex you would like to purchase (#units, cost/unit, does it need rehab? current rent roll...)

Let me know this info and I will help you with what is available.

Wishing you all the best and I look forward to working with you.  

If you would like to call me feel free to do so.

Brian Bocchieri
908 227 8239  (eastern standard time)