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Updated almost 8 years ago on . Most recent reply

User Stats

48
Posts
35
Votes
Alex Witte
  • Real Estate Agent
  • Milwaukee, WI
35
Votes |
48
Posts

Financing Larger Purchases in Milwaukee Wi - Commercial Lending?

Alex Witte
  • Real Estate Agent
  • Milwaukee, WI
Posted

I have been evaluating larger deals. An example is the attached numbers. It is a portfolio purchase for 10 properties. 

My question is: How is a relatively new investor able to finance these larger deals to scale my operation quickly? 

I have shared these exact numbers with a few commercial lenders and have been turned down with their reasoning being lack of experience. For example, First Federal bank said they require 3 years of proven cash flow on properties under my control before they would consider me for financing of a deal as large as the example I have provided here. 

I understand I am new with only 1 duplex deal and 1 land contract deal under my belt, but when I come across deals that involve many properties I want to be able to make an offer and stand behind what I offer if it is accepted. 

Does anyone have any recommendations or thoughts? 

Thanks in advance! 

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