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Updated over 2 years ago on . Most recent reply

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Dan Tran
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Is it possible to get lending for CRE while unemployed?

Dan Tran
Posted

As a total beginner, I have been reading about CRE investments and understand that banks will typically lend based on the property value, tenant (assuming national grade or reputable tenant), and/or the value of the lease.

Therefore, is it possible to get lending even if you're unemployed, as long as you have access to a good potential deal?

 If the answer is no, is it possible to have someone with strong assets or employment co-sign the loan with you as a partner? 

Asking mainly because I work as a technology consultant and have generally very demanding WLB (enough to make focusing on CRE very challenging).

Thanks for any and all advice!

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Corby Goade
  • Investor
  • Boise, ID
3,177
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Corby Goade
  • Investor
  • Boise, ID
Replied

Commercial is a different beast than residential. Theoretically, if you are doing commercial deals, you are a self employed investor. The biggest challenge you'll have is lack of experience. Most banks won't lend to you until you prove you have a clue what you are doing. 

Your best bet for starters is to dig up deals for other investors and partner with them- structure your deals so you get a piece of the equity or the cash flow and hustle- be their gopher. Get experience, some equity and learn the process while you get your feet wet. 

Best of luck!

  • Corby Goade

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