New Investor Seeking Mentor/Partner for Potential 9-Unit Deal

[Justin Molzhon]

Hey BP!

New investor here. Looking at a deal around the Louisville, KY area currently which is 2 separate buildings totaling 9 units that I intend to BRRRR. I have been doing some leg work to find some information on them but am looking for a mentor/partner or even just someone familiar with the area as a second set of eyes on the deal and my numbers. I plan to use my VA loan on the 4 unit building - living in one unit and renting the other 3. As for the 5 unit deal, it looks like someone started a complete renovation but ran out of money. The building was built in 2010 but its down to the framing, which according to the pictures, everything I can see looks new and has some plumbing and electrical done. I have family in the trades that work in residential and commercial who should be able to finish out the project. This takes us to the issue which is funding. With being a new investor I don't have much capital to use as a down payment to get this started. I welcome any ideas and would be more than happy to go into more detail. I have found out that the seller is NOT interested in seller financing.

[Wale Lawal]

@Justin Molzhon

If you are new to multifamily investing, you should partner with an experienced agent or investor.

I recommend you to get in touch with an agent or investor as they have access to more resources and financing options.

You can start by joining local real estate clubs, attending meetups and connecting with local agents and investors.

Do a thorough local market research and analysis.

A local Investor-Agent can help shorten your learning curve and save you a lot of headaches as they tend to understand the market better.

Here are steps for getting started as a real estate investor.

1. Determine your investment strategy
2. Become an expert in your field
3. Understand the market
4. Have access to plenty of working capital
5. Learn the local real estate rules and laws

Read this article for more information https://learn.roofstock.com/bl...

Good Luck!