Vacancy is not a problem. It is a line item.
A unit turns. It sits empty three weeks. You paint it, replace the carpet, and rent it again.
Every lender knows that happens. The question is whether your numbers already account for it, or whether they assume a building that stays full all year. We underwrite the first version.
We would rather see the last three years than the pro forma.
Projections tell us what you hope. Operating statements tell us what the building actually does through a hard winter and a bad tenant. If you have owned it a while, that history is the strongest thing you can bring us.
If you are buying, bring the seller’s statements and we will read them the same way.
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What We Look At
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Unit mix and what each type rents for.
- Occupancy and turnover over three years.
- Expenses per unit, especially heat, water, and who pays them.
- Deferred maintenance, with the roof and the mechanicals first.
- Whether you manage it or pay someone to.
What We Finance
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Purchase, refinance, and improvements.
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Duplexes and small buildings through larger portfolios.
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Owner-occupied duplexes, where you live in one side, which are underwritten differently and usually in your favor.
Call when the building is still listed.
The strongest position is a lender conversation before the offer, not after. It costs nothing and it tells you what you can realistically bid.
Ten locations across Northeastern Wisconsin. Find the one nearest you, or call a lender directly.
Premier Community Bank. Stronger With Every Season.