Updated almost 6 years ago on . Most recent reply
Apartment Loan Question
I am considering a 30 unit apartment complex and wonder if I should look at a traditional 30 yr mortgage or if I should get a commercial loan since this kinda pushes the bounds of side hustle to full on business. I haven't looked into a commercial loan yet, but with 25% down on a traditional mortgage, I am sunk. Thoughts? Any other ideas on how to buy it with less cash out of pocket?
Most Popular Reply
Traditional loan will not be an option. Not only do you need 20-25% for down payment, you will also need significant cash reserves to qualify.