SF TO MF

[Account Closed]

Hey everyone,

Im looking into making the transition from SF rehabs to cash flowing apartments.

My question is, without the required net worth or liquid cash available, how does one get around to obtaining a loan on property. 

I.E The property is 50 units at 22k a door. 

At 1.1 million if I were to put down 30% cash 330,000. 

What is the best strategy for obtaining the rest in financing?

Thanks for you responses.

[Waylon Themer]

The easiest way is to partner with someone who has prior apartment investing experience and decent financials.  You may have to give a little more equity than you would hope but partnering will allow you to go to the bank with confidence that you can get a loan.  A commercial loan from a bank shouldn't be too hard to get with 30% cash equity.