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Updated about 5 years ago,
New investor looking for advice
I want to invest in a multi family unit. I talked to a bank for conventional loan and either A: they require 25% down - which might work but prefer keeping a little cash for future deals or B: if it’s over 4 units he suggested to go with a commercial loan.
Any experience? I'd like to invest using my LLC.
Example 500K, 6 unit, steady cashflow, willing to put in around 60-70 down.
What would be my options?
PS - owner occupied is no option for me. I live rent free now.
Thx.