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Updated over 5 years ago,
Commercial financing for new investor
This question is based on my situation as a new investor:
Is it likely to find a lender for a commercial loan on a 10 door or more building if you meet the financial criteria. Ie good debt to income ratio and 15ish percent down payment.
Or are they more likely to turn down because of inexperience in management a building that size?
I'm wondering if it might be a good strategy to start rather large, attempting to find a building with a clear path to increasing NOI then at closing HELOC that building as a piggy bank for future projects which can be Daisy chained with refi similar like you would with brrrr that keeps refunding initial short term HELOC.
Advice?