Need advice on first time investment

[Anjelica Allen]

I moved to Chicago with just a backpack an $100 to my name and no credit. I'm working extremely hard to get on my feet, and now I'm ready to advance.

I'm now seeking to buy a multi family unit 5+ unit or commercial property in the city of Chicago. But the brokers I've been dealing with state it would be too difficult for a commercial loan. And that I'm only approved for fha 250k multi fam unit 3- unit. 

My question is, how do I improve my chances for a better loan offer or assistance in commercial property? 

Please Note: I have no family or friends to co sign. 

[John Warren]

@Anjelica Allen one of the tricky things about the 5+ unit space is that there is not really an option for low down payment like there is in the residential space. Once you cross over into commercial territory, you are more or less looking to put down 20-25% most of the time. You can get creative and borrow money for construction, but even that is not simple since you need pretty substantial reserves. 

I would think long and hard about why you want to get into commercial versus residential. From a functional perspective, there is pretty much zero difference between owning a four unit versus a five unit, but the financing is night and day different.