My siblings, parents and I are thinking of buying a 10 unit apartment building. I've checked the normal places like amerisave and national mortgage alliance and they don't seem too keen on lending for an apartment building. Does anyone have any suggestions? What would the interest rates be for a 30 year (or 15 year) loan on about 750k? What is normally required for a LTV? Any legal concerns if we each own 2 of the units? Would we just divide the profits and taxes accordingly?
Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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