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Updated almost 9 years ago,

User Stats

229
Posts
107
Votes
Nick Doria
  • Real Estate Agent/Investor
  • Chicago, IL
107
Votes |
229
Posts

Investing in commercial real estate is past REI experience req?

Nick Doria
  • Real Estate Agent/Investor
  • Chicago, IL
Posted

Working towards House hacking a 4 plex and self manage the building to gain experience Later on i will be forming a property management company to manage my buildings once i get to a larger scale that would require it. I have a pretty ambitious goal in terms of how many units I want by the time I reach 40 years old. After doing some thinking and listening to a good amount of BP podcasts buying 4 units at a time will not make it happen in the time frame I want it to. With all of that said here is some of the things I am not sure about since I know commerical investing is different:  

Looking to get into commercial multi-family 5+ units. Is it a requirement to have a certain amount of years of past REI experience to be able to qualify for a commercial loan?

I understand having a good track record is important so maybe the better question would be: How can i set myself up to be able to qualify for a commercial loan?

If it's going to take me a couple of years to build that track record what would be the best way to go about it?

Thanks for reading and looking forward to learning how to set myself up in the right direction. 

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