Need a commercial mortgage loan

[Jeff Salter]

First time posting anything on BP and also first time purchasing an apartment. I’ve been shopping around for a commercial mortgage for a 6 unit apt in NW Georgia. I’ve contacted multiple small banks/credit unions but I want to keep looking. I’m hoping that someone here is able to point me in the right direction or even help me directly.

[Craig Yarnell]

Hi Jeff, are you looking at apartments that need rehab or any value-add component? Or strictly buy and hold? Going directly into long-term commercial financing typically is going to require some level of experience with multi-family and a minimum of 2 years of landlord experience. If there the ability to raise rents, or fees through rehab and better management, than an initial bridge loan from a private commercial lender will give you the ability to stabilize the property and find more options for exit financing. Hope this helps. Thanks