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Updated about 6 years ago on . Most recent reply

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123
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37
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Matt F.
  • Rental Property Investor
  • St. Louis, MO
37
Votes |
123
Posts

Requirements to get a loan for large multi family deals?

Matt F.
  • Rental Property Investor
  • St. Louis, MO
Posted

What is required to get a loan for a multi family deal such as a 12 unit apartment complex? As I have been researching and reading, I understand that lenders are looking for some experience and a track record. That said, what does that translate to in terms of specific requirements?

Most Popular Reply

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417
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150
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Dan Gamache
  • Lender
  • Boston, MA
150
Votes |
417
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Dan Gamache
  • Lender
  • Boston, MA
Replied

@Matt F. Private Lenders in this area definitely would like some experience. The specific property (location, etc) will play a factor. If you can do 25%-30% downpayment, property has strong cash flow, and you have assets you would have a good chance at getting financing. May require you to hire professional property mgmt co in lieu of experience.

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