Question for commercial lenders or brokers
Hey there,
Right now I have about 50k in equity on my rental. I am trying to save up another 50k within a year or so. I would like to sell my property and put 100k down on my first apartment building for around 1,000,000.
My question is is this a realistic goal? It looks like many commercial loans require 20 percent down, but I have seen some for 10 percent. Any advice or things to think about would be greatly appreciated.
Thanks!