Hey everyone, I’m looking at purchasing a larger apartment complex in Garland, Tx.

Perhaps you take the deal to a larger player and get a referral fee

Simple things like larger trash can options or having a pool or lawn (constantly need to be refilled / watered) can greatly affect those numbers.Electric can vary widely too based on AC age, efficiency of house (wood vs. stucco), and living habits of the tenants.

We advise our clients and do the same for ourselves to have a spare refrigerator, portable a/c units etc available once they are over 10 units.On larger apartments 100+ units we have multple appliances and parts available on site.

Have you tried a community bank or some of those larger nation wide ( corvest finance etc) for a high LTV loan?

And some commercial brokerages have fill-in-the-blank contracts of their own as well.Once you get to larger transaction sizes you'll start to see the letter of intent used for offers, followed by formal purchase agreements written by your real estate transactional law attorney. 

In your experience, is there a larger required downpayment for commercial compared to residential or does that depend on the lender?

Mostly brrrrrr deals but possibly larger appt. deals or flips.

You may even be able to get in touch with a larger lender that operates in your state.

Not really sure where to start but we just sold our house so I have some capital to get started, just want to make sure I make sound choices when starting so I decided to join BP as a resource to make connections and maybe even find my first deal.