Large Multi-Unit property financing

[Joe Kelepolo]

I have owned rentals and flipped a few houses, but when it comes to large multi-unit properties I have zero experience.  What should I expect the process to be like if I were to buy a multi-unit property for example at $500K?  Would 20% down be sufficient?  If I used $100K from the equity in my home, is that allowed?  How long does it normally take to close?  I have also heard that it is possible to get financing to reimburse the down payment, is that true?

Thank you!

Joe

[Alina Trigub]

@Joe Kelepolo As @Account Closed pointed out, you need to define your ideal property size. Maybe the best way for you is:

1) to determine the property size and approximate price per unit in the identified area

2) reach out to a commercial mortgage lender (or several) and find out how much you'd need to qualify/obtain a loan

3) read a few books on MFH investing. Start with Steven Berges and David Lindahl books.

Best of luck!