I have been a real estate investor since 2009. I started with one duplex and now own 5. I am interested in attempting to obtain financing to purchase an apartment complex. Being unfamiliar with the process of obtaining finance for a multi-family loan I have some questions regarding how I should prepare to apply. Specifically, I have read that lenders are more concerned with the rental cash flow of the apartment building one is looking to purchase rather than the borrowers personal income. My intention is to sell all the duplexes I own in order to liquidate the equity I now hold to use said cash as a down payment for the purchase of the apartment complex. If I do sell all 5 duplexes my personal income will be considerably small when I apply for the apartment complex. Can someone elaborate on exactly how much a lender takes into consideration the borrower's personal income compared to the rental income of the apartment building the borrower is trying to obtain financing for.
