Small apartments NYC

[Micah Le'Gare]

Hey BP Community,

Please excuse my naivete, but I have a question that could use some illumination; I live in west Harlem and have plans of investing in multi-family/ small apartments in the area. Yesterday I decided to get my "boots on the ground"; talking to contractors, looking at prospects, and getting a feel for my community from a real estate perspective. What I noticed was that many of the properties in development were associated with LLCs. I guess my question is that in order to finance projects like these do banks prefer lending to established companies or do they still lend to commercial investors as well? What steps can you take as a new investor to be taken seriously by banks for projects of this size? Any guidance would be helpful and thanks all for your time