Using Business Loan to Buy Miltifamily

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Using Business Loan to Buy Miltifamily

Kristen Purceski
San Diego, CA · Member since 2019 · 1 post · 0 votes

Does anyone know if a business loan can be used to purchase a multi family complex? Is it difficult to get approved for a business loan? 

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  • Kelsey Jurewicz
    Lender · Fort Lauderdale, FL · Member since 2023 · 33 posts · 19 votes
    3y

    Hi Kristen,

    Have you tried going FHA/Conventional loan and close in your business LLC?

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  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    3y
    Quote from @Kristen Purceski:

    Does anyone know if a business loan can be used to purchase a multi family complex? Is it difficult to get approved for a business loan? 


     It depends. There are a few factors to consider but I would highly suggest you consult with a loan officer or your accountant. I have access to both contacts. Let me know if you want me to send them your way.

    [email protected]614-802-5698
    ReafCo | Ahmed Group 530 Reviews
    WebsiteView Page
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  • Stephanie P.Pro Member
    Washington, DC Mortgage Lender/Broker · Member since 2016 · 4k+ posts · 2k+ votes
    3y
    Quote from @Kristen Purceski:

    Does anyone know if a business loan can be used to purchase a multi family complex? Is it difficult to get approved for a business loan? 


    You can use a DSCR loan to buy a multi family property. No, it's not difficult although you should have some experience (meaning you own a home) because these aren't for first time investors.

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