August 13, 2014
One of the questions you will be asked in inquiring about getting an apartment loan is how much experience you have in apartment complex ownership. For many types of situations involving multifamily loans, you are required to have experience in multifamily ownership. In some multifamily loan situations you are not required to have experience in multifamily ownership.
First, it’s important to know what the definition of “experience” is in multifamily property ownership. The definition is that you currently own one or more multifamily properties of 5 or more... more