Q for Commercial Lending

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  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 678 votes
    1y
    Quote from @Debbie Nunez:

    My lender says I need at least 25% down to buy an apartment complex with at least 9 units, is that correct? 

    Yes that is accurate - but I would say depending on the current condition of the units, rents, vacancy - etc. you can shop around some bridge Reno loans that would get away with 20% so you have time to complete the deferred CapEx. But if it’s more turn key, you are looking at min debt service requirements of 1.25x - I would speak with a highly experienced investment mortgage broker to discuss all your options!
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