Apartment financing for the beginner

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Posted by Jeff Kennedy on February 07, 2010 at 22:33:00:

Southern CA area where a 9 unit property can go for $1.2M. I have a long credit history, all good. Good income from a W2 as well.
What I don't have is ~$200k for a down payment.

I had equity in my house, quite a bit actually, until the crash. Now I have none (though not under water). No real debt to speak of other than the house.

I'm about to start pre-qualifying with a couple of banks but even if everything goes perfectly and it's the deal of the decade, I still need, for all intents and purposes, 100% financing.

Do I have a prayer in this market?

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