Million dollar plus loan help!

[Cory Spitznagel]

Hello all! I found a 4 family in a very upscale part of St Louis and they are wanting $1.2 million for it. Any advice for acquiring loans of this size would be very helpful. I make $85k a year salary and have a good credit score. I’d love to land this building but don’t know how to even approach something of this magnitude. Any advice is well appreciated!

[Jay Hinrichs]

@Anthony Dooley somehow I doubt FHA loan limit is 1.1 mil in St. LU

I think it tops out in the sf Bay area at 800k or so.. and most places around the country 400 to 425k max.

so I think this person will need full down payment and maybe his eye are bigger than his wallet .

this is a perfect set up for parents or family to step in and help.. would not make much sense for other investors..