For example, a bank would never give someone like me who hasn't built before, a loan to build like this, but we are doing it through our company which has a great track record and I will buy it upon completion.I mainly went with a new build because I thought it was a very unique opportunity given the connections I have working in a development and property management company.

Yes....my last tenant really screwed me over using fake bank statements and documents.

If you are targeting small multifamily properties, that statement can be true, but if you are targeting larger units, the chances of paying cash are very small to none, as many people will buy it using banks and a mix of syndication, so savvy investors will ignore your letterThe PS section where says " or if they have tenants in the property."

Thought I’d share a deal with you guys that I completed a bit ago as I rarely see people talk about projects like this.I purchased a house that was repossessed by the bank.

I’m a 21-year-old college student majoring in physics and economics, I am the president of the Commercial Real Estate Club at my University, and am preparing to enter the investment banking industry after graduation.

So there is a 20 unit building I'm attempting to buy, I made an offer of 1,500,000, 60 days inspection period and cash close, need to see 3 years of bank statements as proof of income. 

The banks proved to be nightmarish.

@Jordan Townes - Looks like the bank is denying the HELOC because they know that taxes are likely ahead of them and the HELOC would be in second position to the taxes.

I tell them my bank drafts my mortgage on the first and rent is due on the first.

Has anyone ever worked with these banks?