Purchasing Rental Property
by MrElkins, Window Shopper
- Created: August 28, 2013, 3:20 am
- Updated: July 2, 2014, 12:55 pm
I have been in the military for over 16 years and am interested in purchasing a local apartment complex. The asking prive is $1.4 million. I am curious to find out the likelihood of acquiring a business loan for this type of investment. The apartment rental(with a great rental history) income on the low side would bring $17,950 per month. After a little research I expect the loan payment to be around $8,000 per month. I have a BA in Business Management and 16 years experience in Human Resources. Any suggestions?
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