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Updated 3 months ago, 08/13/2024
Financing a 6 unite apartment building
Hi everyone, I've been a member of bigger pockets for years but have never posted on the forums before. I buy single family rentals and duplexes over the last 5 years. I want to get into apartment buildings and I've found a 6 unit to start with. I've always read on here and heard others talk about how buying and financing commercial properties are so much easier than residential. I've read they're fast and don't really require much information as far as my personal finances and dti. The couple lenders I've spoken to thus far told me they're completely underwritten based on my personal debt, assets, income etc. and not on the properties debt service. Am I talking to the wrong lenders or have things just changed recently?
Thanks