Qualification for Multifamily Properties?

[Jack Miller]

Hello All!

I’m an investor local to Oklahoma City. I’ve done a few deals in the past, all of which have been single family and one duplex. I’ve decided to make the switch to multifamily because of the attractive cash flow that comes with.

In doing so I’ve been listening to more podcasts on the subject and have heard that when closing on 5 units and more the approval process is more based on the property and less on the individual. Does this mean that as long as I can meet the 20% down payment and the numbers work a bank will more than likely approve me?

Thanks in advance for your time in answering and reading!