Commercial loan for 5 family

[Gary Northcutt]

I keep here you guys talking about commercial lenders not looking at personal finances just the property but why does all the lenders I'm talking to want my personal finances and a personal guarantee on the loan? The property I'm buying is an off market deal with a gross rent of $3,065/month (which is below market) with a cap rate of 12.2% and a net profit of $1,000/month (figured using the Bigger pockets calculator). The purchase price is $175,000 and I'll put 20% down. (I haven't been able to find a lender that will do 10% down) This is the first time I have had to obtain a commercial loan and don't completely understand how this all works.