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Private Lending & Conventional Mortgage Advice

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Matthew E.
  • Los Angeles, CA
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Financing 5+ units deal for first real estate deal

Matthew E.
  • Los Angeles, CA
Posted Dec 29 2017, 02:50

Is it possible (relatively easy?) to get a commercial real estate loan for a 5-8 unit apartment complex as a first time real estate investor? I've been interested in real estate for a few years now but due to graduate school I haven't been able to commit. I doubt I'll be closing any deals in 2018 but am hoping that by the start of 2019 I'll be in a position to actually pursue a real estate deal seriously.

I will be debt free, earning around 100k/year, have a credit score of 760, and should be able to supply a 20% down payment for properties I'd be interested in. Is my lack of real estate investment experience a huge barrier for me obtaining a traditional commercial bank loan for a 5-8 unit commercial property?

I'm a big time newbie but this is something I definitely want to pursue and am willing to listen to any and all advice! Also, if anyone has any resources they think I could really benefit from reading/watching/listening then please let me know.

Appreciate the help!

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