Financing Questions for First Multifamily (4+ Units)

[Patrick Ryan]

Hello! I am looking for my first multifamily property (4+ units). I don’t currently have a W2 as I operate my own business. I will have an investor as well.

What are the best methods to secure financing for multifamily properties without consistent income? What have you tried?

[Matthew Crivelli]

Stick with 2-4 units. 5+ multi family are not as great as people think. As far as financing 5+ units, your looking at lower leverage on the loans, higher rates, more expensive appraisals, and much Stricker guidelines on the qualifying rental income. You also have a small buyer pool if you ever need or want to sell. If it was me, I would build a portfolio of small multis.