Multifamily financing with 30% down

[Michael Huang]

Hi everyone, I don't know if I post this at the right place. But I have a question about 30% down on 100 unit multifamily deals.

if I have 30% downpayment, but never have done a deal yet. How likely would a bank finance me for over million dollar multifamily deals? I have excellent credit, has down payment, currently have two personal mortgage, one SFH rental. but no big commercial deal experience.

I am also looking for good a attorney and CPA in Jacksonville FL. If you are one, please pm me. Thanks.

[Todd Dexheimer]

If you don't have the net worth like @Abel Sng said, you should still be able to get financing with local banks with recourse financing (you personally guarantee the loan). With 30% down and a property that has 1.2 -1.25 Debt service coverage ratio you should be fine