Commercial loan for 6 unit apt

New to the board.
I am looking at a comm. prop. 6 units.
Cost 75,000
Rehab cost 125,000
ARV 400,000.

I need to know how I can get this done, with only putting in 10,000 of my own $. Or better yet, less than that.
I have read some posts, and it seems that it is possible.
I have used hard money with 1-4 units, and I prefer not to go that route.
This is my first comm. deal.
I appreciate the advice

What is the current appraised value of the property?
What is current income of the property?
What is are the current expenses?
What is the current occupancy of the property?

Commercial loans are based on the income of a property. If a property is not producing income, then you are looking at non-bank lenders.

I’ve found that the best way to approach rehab projects, is to use one loan for acquistion & rehab. Then after rehab and the property is generating income, refinance into a perm loan. You will need to put more than $10,000 into the deal and the rates for the 1st loan will be high.

Patti Porter

You did not state if you intend on reselling after the rehab is done or keeping the property. You might want to look into private investment money. Private investors typically do not charge closing points, but do usually want cashed out within a year.