Updated over 6 years ago on . Most recent reply
Matt F.Poster
#5 Starting Out Contributor
#5 Starting Out Contributor
- Rental Property Investor
- St. Louis, MO
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Requirements to get a loan for large multi family deals?
Matt F.Poster#5 Starting Out Contributor
#5 Starting Out Contributor
- Rental Property Investor
- St. Louis, MO
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
@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.