All Forum Posts by: Steven Rogers

Thank you very much for your answer.

I agree the loans are very specific to the strength of the property - but I also wanted to get a sense of just how big of a loan I could be qualified for (assuming the property is in acceptable condition cash-flow wise). For example, reasoning about how much in assets I must show to get a certain loan amount, etc.

Also, when you say 75% for stabilized properties, 60% for non stabilized - do you mean as in 25% down payment expected vs 40% downpayment? Or something else?

I'm very new to real estate investing, but there is one thing I wanted to get clarified - is it typical for a person to already have a pre-approved loan for a given amount, before looking more seriously into buying a property?

Specifically, I'm wondering if it makes sense to already have some sort of pre-approval in order to know the max amount a bank will loan me, so I can get a sense of what my upper cap is. Is this typical, or will I look silly if I walked into a bank and asked for this?