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Grant Cooper Profile picture
Grant Cooper
@HUDMFLoans
All things HUD, Multifamily, and Multifamily Finance. Formerly @HUDGOV, currently @berkadia. grant.cooper@berkadia.com
Apr 23, 2022 • 7 tweets • 2 min read
If you own land and want to develop multifamily housing on it, you could get an 85%+ LTC construction loan that might even allow for cash out. How? Land equity and an often unknown HUD detail: BSPRA 🧵 What is BSPRA? BSPRA stands for Builders/Sponsors Profit Risk Allowance. It is an option under the Section 221(d)(4) program which requires:(1) an established identity of interest between
the borrower and general contractor and (2) the GC’s profit to be satisfied outside of loan.
Apr 10, 2022 • 6 tweets • 2 min read
HUD multifamily finance is the best kept secret in the industry. Many believe that only affordable/subsidized/rent restricted properties qualify, but this is not the case. 🧵 HUD MF financing is often the best option for medium to long term holders that are looking to build generational wealth. Not only do HUD’s programs offer the best terms in the business, they also offer the lowest rates as well. forbes.com/sites/forbesre…