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Updated over 6 years ago,

User Stats

16
Posts
15
Votes
Jonnathan Thompson
  • Investor
  • Stafford, VA
15
Votes |
16
Posts

Commercial loans for new investors

Jonnathan Thompson
  • Investor
  • Stafford, VA
Posted

I seem to be running into a bit of a wall here. I am trying to find places that will lend money to new investors with no track record. I am able to put up 30%, but the banks (small, local ones), and even online lenders, want so many months-years experience, which I dont have. My goal was to buy a bigger multifamily deal and have a property management team manage it for me, instead of me being a landlord/manager. But, it seems like that's a no. Am I supposed to start small and be the landlord for a couple year before I can move up or should I just keep calling around to see if someone will eventually say yes?