Birmingham, MI (PressExposure) February 03, 2009 -- Commercial Finance Advisors, Inc opens an office in Richmond, Virginia. The office will be headed by Ryan Crush a multifamily and investment property finance specialist.
"We are excited about expanding our operations into Virginia. Mr. Crush has worked with us for some time and we are even more pleased to have him on board. His background and experience is on the multifamily finance side of the business, which is a great fit for us." Comments Jeff Rauth, President.
Multifamily loans are still viable for the most part and have hung in there well compared to most segments of the commercial mortgage market. Real estate investors are encouraged to look hard at multi family opportunities as there are many solid transactions and, importantly the liquidity is still there. Through programs offered via Fannie Mae and Freddie Mac banks and lenders can be assured that they will be able to efficiently sell the multi family loan after it has funded - creating the needed liquidity.
Conventional financing on multi family loans is still viable as well, though perhaps a little more battered than the government sponsored programs mentioned above. Borrowers with loan amount less than $2,000,000 should take a serious look at these options as there still are long term fixed rates, amortization schedules to 30 - 35 years, etc and they are in general easy to get done (and less costly).
Multi family loans are still viable, and we are seeing some of the best cap rates ever in various regions of the country. If you have the stomach for it, now is probably a once in a lifetime opportunity to secure multifamily properties, at a real bargain.