Commercial (Residential 4+ Units) Lending Options

[Evan Haag]

Hi All,

I've found a promising property in the Northern Kentucky area that has 9 units and is listed right around 200k. I've been attempting to secure financing or at least a pre-approval note, but have been having trouble finding a good "commercial" lender for this residential building. Disclaimer: I live in California, but the property will be bought under a Kentucky LLC.

I've been told both ways that the loan should originate where the signer (myself) is, and also it should originate where the collateral is. No clear answer.

Does anyone have any recommendations for apartment building / Commercial lending in the Kentucky/Cincinnati area? I'm planning 20% down, and the payment on the building is easily manageable with my salary even if all 9 units where somehow vacant at any point.

Thanks for the help!