MultiFamily Residential Building Complex

[Arthur Voskanyan]

Is buying a large MultiFamily Apartment complex of like 12+ units a good investment, I’m in SD area, and also it’s near a university, a class C, occupancy at 100% as states. I was wondering is there any way an investor/buyer can view past history operating income, profits, based on a financial report, tax reports from previous owner? Is all that information is to legally obtain from the owner? Also, how are banks with loaning/financing a large MF residential building? Same as buying one unit, same conventional loans apply, with same rates? Thank you, Arthur Voskanyan

[Etienne Martel]

Hey Arthur,

It is definitely legal for them to show you any information they would like to share with you. You will most likely have to show extreme interest and of course capability to proceed with the investment. 

They should have some sort of rent-roll & expenses to share with you. If the multifamily building is larger than 5-units, it is considered a commercial property. Finding funding on the property will be focused more on the actual financials of the building itself...rather than your personal capability to pay for the property. 

When you're looking for funding, I would highly suggest shopping around to see who can offer you the best deal for your building. 

Hope I Could Help & Happy Holidays!