Refinancing a 6-pled

[Krystle Padilla]

Hi everyone! I'm shopping around for a multifamily and ran across a 6-plex that sparks my interest. Since it's a commercial property I'll need a higher down payment which I would receive as gifts from family members and friends. To repay them, would I refinance the property? And if I do are there different rules for refinancing a commercial property versus a residential property? The property is in California. Any advice and suggestions would be helpful, thanks! Krystle

[Chris Soignier]

Gifts don't need to be repaid.   Did you just publicly state that you're planning to fraudulently obtain a loan?     Why not make them equity participants, and "repay" them by distributing the excess cash flow to them?