Commercial Property Financing

I am super interested in apartment complexes in the near future, but I know very little when it comes to financing and the other costs you don't think about.  I've heard 20-30% LTV down is required, but if you have any info on closing costs, reserves required, necessary liquid/non-liquid assets to qualify and anything else I would appreciate your insight.
Keoki Kimzin
USAF/Multi-family Investor
[email protected]

    Comments

    • 20 percent down min, 6 months reserves, 2 to 3 percent closing costs
      Creator of Invest Four More
      If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


    • Posts: 9
      Thanks Mark, this jives with the info I just got with my loan officer.
      Keoki Kimzin
      USAF/Multi-family Investor
      [email protected]
      • Almost every loan will require an appraisal, title company closing fee, loan origination fee, recording fees, and in some states attorney fees, title insurance, transfer taxes, etc
        Creator of Invest Four More
        If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


      • Posts: 0
        Depends on your experience as well, talk with your lender, some require you hire a management company with little to no experience. Mark Ferguson is generally correct. Get prequalified first. Generally local banks that know the area and asset are your best options. If you have experience and assets I just closed a MF B- w 10% down for one of my clients.
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