12 unit property funding

[John DeWitt]

What do banks/lenders consider when someone wants to purchase a multi-unit rental? Is it based on tenant occupancy or additional factors?

[Carlos Ptriawan]

You can think the same way if you're the lender. For large MF I'd rather go to the syndication route except if you want to become GP. Even if you have 12 mil in the bank, why want to own a single asset that you can diversify to reduce the risk.