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Updated almost 6 years ago,
Will the bank lend me money for an investment property?
Hi.
Noob warning.
I am looking into a possible investment in Florida. An 8 unit multi-family.
Since this would be my first ever dip into this world, I was wondering about my ability to get a loan.
I admit to say - I am a complete newbie when it comes to banking.
So my question is - how do I get a loan?
I would like to put down about 20 percent of the asset price, and get the rest - if possible - from a lender.
1. Is this even possible?
2. Will a lender/bank even consider me?
I have great credit score, but no real assets aside from my personal savings account.
Thanks
And please - be kind, I am new to this :)