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Updated over 2 years ago,
Looking for advice on best plan of attack starting multi-family
Hey guys,
I was wondering if anyone out there had some tips on how I should go about beginning my investment career in multi-family. I’m looking to purchase a property with at least two units but willing to go for a triplex or fourplex if financials allow. I’m currently working full time but my career allows for a lot of time during the day to educate myself on real estate investing. Have about 15k saved currently but can roughly add 3 - 4k a month to that. Found a couple c-class 2 unit properties close to my area for around 180k. Both properties have tenants. Should I wait until I’m able to cover 20% down? Try to find something cheaper without tenants that I can put sweat equity in then rent out? Or go for a type of creative financing? Ultimately I’m trying to create a good plan to scale rapidly without much upfront capital in order to achieve more freedom with my family.
Thank you!