Finding Financing for 5+ Unit Properties

[Adam Brammer]

I am a newbie real estate investor looking mostly at multi-family properties, most of which are 5+ units. I have found several that work really well numbers wise if I am able to find a 30 year loan. Most banks I have approached will only offer commercial loans limited to 20 year max amortization. Is there something that I am missing out on for better financing or is this what I should be expecting for larger multi-family deals? Any help from the BP world is greatly appreciated!

[Clifford Paul]

Keep talking to lenders, you can find any terms you want if you have a truck load of cash for the down payment.  Most commercial lenders will require 25% down and 30% if it's your first deal.  Like Cris said it's more about your experience in the space and your cash than anything else. 

I'm able to get commercial loan with 5% down and 30 year term but I have been doing this for 36 years and have a 30 year relationship with my bank.  Plus they hold a large amount of my money in investment accounts. No one is just going to walk off the street and  get the terms I get.