Updated over 8 years ago on . Most recent reply
Requirements for buying commercial multifamily?
Hi All!
My experience in multifamily thus far has been in the 1-4 space. My future goals involve larger properties and would like to start setting myself up to attain them.
What are the qualifications on larger multi-families?
-net worth requirement?
-experience?
Thanks,
Tom
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Mike Dymski
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Mike Dymski
#5 Investor Mindset Contributor
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#5 Investor Mindset Contributor
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- Greenville, SC
@Bill Henley big balance sheet = net worth relative to the size of the loan and post-acquisition liquidity relative to all debt service. Experience in the particular asset class and net worth/liquidity will move the hurdles up or down on requirements. The benchmarks above are proxies to help facilitate an internet post...consults with lenders will provide more clarity.
Check out the attached link, slides 6-11, from James Eng, BP member and multifamily lender. http://www.slideshare.net/JamesEng2/multifamily-fi...