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Updated over 4 years ago on . Most recent reply

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Jake Sabin
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1
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Apartment Loan Question

Jake Sabin
Posted

I am considering a 30 unit apartment complex and wonder if I should look at a traditional 30 yr mortgage or if I should get a commercial loan since this kinda pushes the bounds of side hustle to full on business.  I haven't looked into a commercial loan yet, but with 25% down on a traditional mortgage, I am sunk.  Thoughts?  Any other ideas on how to buy it with less cash out of pocket?

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Albert Hall
  • The Plaza
14
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Albert Hall
  • The Plaza
Replied

Traditional loan will not be an option.  Not only do you need 20-25% for down payment, you will also need significant cash reserves to qualify.

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