Financing and Experience

[Account Closed]

Hello everyone,

I have been investing since June 2014, with two properties under my belt (both purchased in 2014 - SFR and a duplex). I would like to purchase a 6-unit property. My question is, should I be concerned about the length of time I've been investing to qualify for a loan? My credit is excellent and I would be able to put down 20-25%. I guess my concern was I won't have a full year of figures until 2015 closes. I didn't know if that would be an issue.

Thanks!

[Darren Eady]

You'll put down a larger down payment on a 6 unit (considered commercial) property, more like 30%.  The numbers need to stand on their own with rents, costs, etc.  If your credit and income qualify, you shouldn't have too much trouble getting the loan based on your experience to date.  Good luck!