Newbie Lending/Funding Question:

[Melissa Kee]

So, when looking for a lender to purchase a multi-unit rental property, one of the requirements many lenders look for is experience. So, for a new investor that has not owned and/or managed any of their own properties, will experience of past employment working for a property management company count for those lenders?

[Jerry Padilla]

@Melissa Kee

Conventional financing backed by Fannie Mae doesn't require a 2 year rental experience history - only Freddie Mac does to count rental income. 

If you choose a lender without this overlay, that can follow Fannie Mae's guidelines directly than you can count potential rental income at 75% of the lessor or market rent or lease agreements on new investment purchases. 

Having a history of property management may help your case, but it is going to be underwriter dependent, if the lender has this overlay of requiring rental experience.