I’m 19 I have established credit I want to get a commercial loan

[Franklin Marte]

I’m 19 graduating college in 3 months I plan to work all summer and with my job I can come up with about $10,000-$15,000 in the summer and I want to get a commercial property that I believe generates about $5,000 net income. I want to get a commercial loan but I haven’t worked for 2 years and I’m not sure what else they look at. I was told that if you’re in college and after graduating if you work in the same field you studied then school counts as “work history” What do I need to get a commercial loan. I feel like I did the numbers correctly, I got the cap rate from the website online. It’s a building C type and has 9 units for about $550,000 with a cap rate of 11.37% I know what market I want to go in.

[Jaysen Medhurst]

@Franklin Marte, I think your chances of getting a commercial loan at such a young age are slim to none.

Also, you're going to need a lot more than $10-15k. A commercial loan typically requires 25% down, plus closing costs, plus reserves. You'll need ~$150-175k to make it happen. Can you partner with someone? Parent, mentor, uncle...