Recommendations for Commercial Lenders in ArkansasHere are some commercial lenders that operate in Arkansas and can assist with financing an 8-unit multifamily property:Local Banks and Credit UnionsArvest BankOne of the largest banks in Arkansas with a robust commercial lending department.Website: Arvest BankBank OZKKnown for its commercial real estate lending.Website: Bank OZKSimmons BankOffers various commercial real estate loan options.Website: Simmons Bank

Alternatively you could do a smaller a cash out amount and a private agreement for installment payments to each party secured as a second lien post closing. 

My wife and I are passionate about real estate and have secured our first investment property this year of 2024 on Hawaii island.

State Where the Real Estate is Located: In addition to your home state, the state where the real estate securing the mortgage note is located may also have its own licensing requirements.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Further,"At least one borrower must occupy the property and sign the security instrument and the mortgage note in order for the property to be considered owner-occupied."

I'm asking for 1.5 month's rent for security, which totals to $5,700.

Make sure to do your market research, budget for renovations, talk to other investors/agents, and build a relationship with a lender to secure financing and get advice.

Leveraging Mark's local market expertise, we secured the property for $60,000.

It is the large community mailbox and you usually have to pay to rekey the whole thing for security issues.