04/27/2020
I know what it is like to wake up in the middle of the night worried about making the mortgage payment on an apartment community I own. I know what it’s like to prepare for difficult conversations with the servicer and to dread phone calls with my partners requesting additional funds to cover the mortgage payment.
I have been an owner and operator of multifamily assets since 1989 and have seen a lot of changes come and go in the financial climate.
Like many of you, these past few days have derailed my investment plans. I had planned to close on a value-add apartment community on April 16th…yes just a few days ago. As I watched, the debt vanished and the equity went on pause due to the physical and financial destruction caused by COVID-19.
This got me thinking! I believe I have a simple solution to help owners of multifamily real estate who are now struggling to make their mortgage payments. This rescue mortgage investment, compared to other forbearance or hard money loan terms, has relatively simple terms and can be customized to meet your needs.
Here’s how it works. Garrett M, LLC, will expediently review your partnership and loan documents and will create an amicable financial solution to help you make a number of your monthly mortgage payments. In essence, we will provide short term capital without interrupting your leasing or management structure.
We have given this tremendous thought and have looked at it from an owner’s perspective, adding our decades of experience in the field. I know we can help you stay on top and keep your assets thriving. Our goal is to complete the process in 7 to 10 days to help you as quickly as we can. Check out our website and fill out an inquiry form @ garrettmllc.com to get started.