Funding program

Multifamily Investment Financing

Financing for investor-owned multifamily — from small residential multi-unit to larger income properties. The file is read through rent rolls, expense realism, unit mix, and the operator's ability to run the asset.

Multifamily sits between residential investment product and full commercial CRE. Small 2–4 unit assets often look residential; five-plus and true apartment assets look commercial. Either way, the questions are the same: do the rents support the stack, are expenses honest, and is the exit a refinance or sale the market will fund?

Submit a Deal for Review See Parameters

Multifamily leverage, unit eligibility, rates, and terms are confirmed per transaction. Not a commitment to lend.

Program parameters

Terms at a Glance

Where a figure is still being confirmed against the current program sheet, it says so rather than guessing.

Use of funds: Acquisition, refinance, or value-add capital for investor multifamily
Unit range: {{CLAIM:multifamily.unit_range}} — confirming against current program sheet
Evaluation core: Rent roll, expenses, occupancy, unit condition, market rents, and sponsor operations
Value-add: Rehab scope must connect to achievable rent lift — not wishful ARV
Markets: Cleveland, OH and Fort Lauderdale / South Florida
Business purpose: Non-owner-occupied investment property

Who It Is For

Investors buying small multifamily for cash flow
Operators recapitalizing stabilized multi-unit portfolios
Value-add sponsors renovating units to raise rents with a real budget
Borrowers moving from single-family rentals into multi-unit scale

Common Scenarios

Purchase of a performing 2–4 unit or larger multifamily asset
Refinance after lease-up or rate improvement
Unit renovation program funded with controlled draws
Bridge into longer-term rental or agency-style takeout (when available)

How the Transaction Is Evaluated

In-place rents vs market rents. The gap is opportunity only if you can actually capture it
Expense ratio. Taxes, insurance, turnover, and utilities often understated in seller packages
Unit condition and capex. Roofs, mechanicals, and deferred maintenance change leverage
Occupancy and collections. Trailing performance beats pro forma optimism
Operator capacity. Self-manage vs professional management for the unit count
Exit. DSCR refinance, sale, or long-term hold thesis

Documentation

Rent roll and lease samples
T-12 / operating history where available
Unit photos and rehab scope if value-add
Purchase contract or refinance detail
Entity docs and experience summary
Insurance and tax estimates

Illustrative economics

Illustrative Small Multifamily Snapshot

Teaching example only. Shows how unit rents roll to NOI. No RECR rate or max LTV is stated.

Illustrative only. Not a quote, not an offer, not a representation of terms for any specific transaction.
Units	6	Mix of 1BR / 2BR
Average in-place rent	$1,150 / unit	Monthly
Gross monthly rent	$6,900	All units occupied
Annual GPR	$82,800	Before vacancy
Vacancy (5%)	($4,140)	Illustrative
EGI	$78,660	After vacancy
OpEx (45%)	($35,397)	Including insurance stress
NOI	$43,263	Underwriting anchor

Reading the table: underwriting cares about whether income, occupancy, and exit support the stack — not whether a marketing range looks competitive on a brochure.

Process

From Inquiry to Clear-to-Close Path

01

Preliminary numbers

Units, rents, expenses, purchase price, and planned work.

02

Path selection

Rental/DSCR, commercial, bridge, or JV if economics fit shared capital.

03

File build

Rent roll, financials, rehab budget, and comps or appraisal path.

04

Underwriting

Conditions and capital partner requirements.

05

Execution

Close, then draws or stabilization plan as applicable.

When This Path Does Not Fit

Rents that only work at full market with no path to get there
Expense ratios that ignore insurance and tax reality
Heavy capex with no budget or contingency
Operator inexperience on unit count without a management plan
Owner-occupancy intent on a 'investment' file

If this program is not the right fit, RECR may identify another available direction among debt, bridge, construction, or joint-venture structures.

Related Resources

FAQ

Questions Investors Ask First

Is a duplex underwritten like a single-family rental?

Often similar products apply, but multi-unit files still need unit-level rents and realistic expenses. Larger multifamily moves toward commercial-style review.

Can I finance a heavy value-add multifamily?

Yes when the rehab budget is line-item, the rent lift is supportable, and the hold or refinance exit underwrites. See also Fix & Flip when the plan is sell rather than hold.

Do you need every unit occupied?

Stabilized occupancy helps. Vacant units need a lease-up plan, budget for downtime, and market rent support.

How does DSCR fit multifamily?

DSCR asks whether income covers full monthly debt service. Run the DSCR calculator before you submit.

Have a commercial or multifamily opportunity in motion?

Bring the address, the numbers, and the exit. We will tell you which capital path fits — or which one does not.

Submit a Deal Talk to the Team

Important disclosures. Program language on this page is illustrative. Actual leverage, rates, fees, terms, and eligibility vary by borrower, property, market, documentation, and capital partner. Not a commitment to lend. Not an offer of securities. Business-purpose, non-owner-occupied transactions only where applicable. Subject to underwriting and final approval. Not all transactions qualify.

Unit economics before building aesthetics

Pretty exteriors do not cover weak rent-to-expense math. Build a unit matrix: beds, baths, in-place rent, market rent, and turn cost. Insurance in many markets has repriced multifamily hard — if your underwriting still uses last decade’s expense ratios, fix that before you argue leverage.

Value-add only works when the rent lift pays for the turn costs and downtime. “We’ll renovate and get market” without a bid and a lease-up schedule is a story, not a file. Pair this page with the DSCR calculator and DSCR guide.

For larger or more commercial multifamily, also review commercial financing and the cap rate calculator.

Field notes for stronger multifamily files

Underwriting is a conversation about risk transfer. Every structure answers who holds basis risk, who holds execution risk, who holds market risk between now and exit, and who gets paid first when the project succeeds or stalls. Investors who can narrate those four points clearly get better path-fit answers than investors who only ask for a rate.

Documentation quality is not bureaucracy for its own sake. A rent roll that balances, a budget that ties to photos, and comps that an appraiser would not laugh at are how capital partners defend a yes internally. Soft files create soft maybes that die in committee.

Cleveland and South Florida both contain submarkets that look similar on a map and behave differently in insurance cost, buyer depth, rent ceilings, and days-on-market. Say which submarket you are in and why this asset works there. Generic “Midwest multifamily” or “Florida flip” language does not substitute for local arithmetic.

If this program is adjacent to another path on the site, read both pages before you submit. The cost of an extra twenty minutes of reading is lower than the cost of a week spent in the wrong box. When you are ready, use Submit a Deal and include the constraint that matters most: cash in, speed, payment, or upside retention.

State the exit with a date range, not a vibe
Separate known facts from assumptions in your notes
Disclose the ugly item early — roof, vacancy, code, partner dispute
Match entity name on the contract to the entity that will borrow or venture
Use investor tools to pressure-test the story before the desk does

Practical checklist before you leave this page

Write down the property address, the all-in cost you actually believe, the exit that repays the stack, and the date by which that exit must work. If any of those four items is fuzzy, fix the fuzz before you argue about product labels. Capital partners can work with incomplete documents; they cannot work with invented arithmetic.

Then choose one primary program page that matches the strategy, one calculator that stress-tests the key ratio or budget, and one resource article that explains the concept you are least confident about. That three-click path is how this site is meant to be used — not as a stack of disconnected marketing tiles.

RECR focus markets remain Cleveland, OH and Fort Lauderdale / South Florida. Phone 954-676-4205. Email fabercapitalresources@gmail.com. Up to 100% of purchase, rehab, and closing costs on qualifying joint-venture transactions remains available only when total project cost is within 70% of ARV and full conditions are met — never as a slogan detached from the gate.