Can someone please help me

[Damion Byros]

Can someone please explain to me all the potential details I should know before engaging in looking at apartment deals from the fianncing side. For instance with banks I had a lender call me and say to be approved for LTV 80 percent you must have liquidity or in reserves of 10 percent of the loan amount which would have been 5.5 million on an apartment building generating 1.3 million with operating expenses of 500k and a debt service payment of about 271 K ... The rate would have been 5.25 percent with amortization of 30 years my down payment need would have been 1.1 million .. So my question is like what else besides reserves would the banks require like how much income I know most institutions will have different underwriting criteria but in general also is it hard to get these deals done ... And furthermore is there any creative financing any one knows about that a person could do to come up with the down payment ? Thanks you all for your help and responders I love np and love to learn so please help me out I really appreciate it