What does your lender actually need to see before they say yes to your first multifamily loan?
In this episode, I sit down with Julie Anne Peterson, affectionately known as the First Lady of Lending and Senior Director at Old Capital Lending, one of the largest mortgage brokers in Texas. Julie is not just a lender. She owns and operates multifamily assets, capital raises, and hosts Zoom at 8 every Tuesday night to educate and connect investors across the country.
We walk through the blueprint for getting your first multifamily loan, from understanding your personal financial statement to assembling the right team before you ever put a deal under contract. Julie breaks down the difference between agency and bank loans, how to match your debt to your business plan, and why the prepayment penalty conversation is one most operators are not having early enough.
We also talk about what limited partners should be looking for when they review a deal, the red flags to watch for in underwriting, and the questions every passive investor should be asking before they write a check.
If you are new to multifamily and feel like the lending side is the most confusing piece of the puzzle, this episode will change that.
Timestamp
00:00 Intro
02:33 Why invest in real estate
03:27 Real estate is not a get-rich-quick strategy
04:13 Real estate as a hard asset
05:40 How real estate generates cash flow
06:34 How leverage increases returns
08:50 Tax advantages of real estate
11:37 The 4 ways real estate makes money
16:07 Different real estate investing strategies
18:02 Multifamily vs single-family investing
24:53 Risks of real estate investing
27:14 Long-term strategy for building wealth
What We Cover
- The three things lenders look at before approving your first multifamily loan
- The difference between Fannie, Freddie, and bank financing, and when to use each
- How to match your loan term and prepayment structure to your business plan
- How to build your team before you find your first deal
- What limited partners should be asking operators about their debt
- How to evaluate rent growth and expense assumptions in today's market
- Resources and communities to help you learn and connect faster
Key Takeaways
- Your lender is your biggest partner on any deal, not just a source of money
- Net worth, liquidity and experience are the three boxes you have to check for agency lending
- A 30-year amortization on agency debt lowers your monthly payment compared to most bank loans
- Matching your loan term to your business plan is just as important as getting the lowest rate
- Yield maintenance can cost you hundreds of thousands of dollars if rates drop and you exit early
- As a passive investor, dig into how an operator has improved NOI, not just whether they have gone full cycle
- The first year in many markets today should be modeled flat; distributions are more realistic in year three
Connect with Julie Anne Peterson
- 🔗 Links and resources: https://linktr.ee/juliepetersonoldcapital
- 💻 Zoom at 8, a free weekly network and education call for multifamily investors every Tuesday night: www.zoomat8.com
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Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
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