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Updated about 6 years ago on . Most recent reply
Apartment Complex Financing Options
Apartment investing seems highly profitable. How simple is it to get one financed for a unit over 1M. I understand evaluating the property and making sure it cash flows, but the financing side of the house I still have a large gray area. Thanks guys!
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
The larger deals over $5million are easier to finance in general. They look more t0 the building to qualify than they do at you personally other than your experience in the business.
Smaller deals will be based more on your financial qualifications. The key to this is to have your financial package in order and ready. Last 3 years tax returns, updated PFS and any other pertinent information regarding your experience and financial capabilities.
If you cant qualify you can always partner with an operator or sell your deal if its good enough.