Apartment building with no money down?

Question

I found a apartment in Kansas that is worth 27 Million dollars and i will like to ask can you give me names and phone numbers or even website of lenders who can give me 100% seller financing?

Also Can a apartment that never had debt do have no apraisal?

please give me a answer thank you

Answer 1

No money down means they really want to unload a building that is riddled with problems. Before any lender would give you any kind of a loan. The building must be inspected for Codes, plumbing, sprinkler systems, electrical, and structural. My thoughts would be to forget about this, it would probably cost you millions to update this building to code and then fill it with tenants or leaser's.

Answer 2

You will need 20% in cash and an experienced management team to purchase anything of this size before any lender will talk to you.

An appraisal is easy, the cost will depend on the detail your lender needs.  They look at condition, location, cash flow and comps. For a building that size, figure an appraisal will cost 10 to 30k.

Nice to dream anyway.

Answer 3

It's nearly impossible to find a no money down for residential, you will never find a no money down for investment , realistically unless the owner wants to hold the note you will have to place any where form 30% to 50% down

Answer 4

I moved from Kansas to New York last year, so I'm not sure who I could contact to help you. Here is a resource of apartments in Kansas that you can contact. http://www.findanapartmentonline.com/Kan... Hopefully someone can help you.



Hope you find what you need

Answer 5

You need at least 25% down to buy an apartment building.

I am amazed ANYTHING in Kansas is worth 27 million, but I have never been to Kansas.

No bank, or investor would touch this without appraisals and inspections.    No one with that kind of money is that stupid.