purchasing a multifamily with little money down

[Jason Deutsch]

Morning fellow BP members, 

On the road to purchasing my first property. Spent months reading, educating myself, listening to podcasts, ect. I was wondering if there are ways to purchase a multifamily without the 20%-25% conventional? I already own a SFH so owner occupied is out. Is there are any options I have to purchase a multifamily with less than 20%-25%? Any suggestions will be greatly appriciated.

[Heather C.]

When I purchased my first multi family (a quad), I went to a small local bank and they took the risk; but they also cross collateralized the loan with my primary residence.  Not the ideal situation; but 5 years later I still own them both.  If you buy it right, you shouldn't have an issue with financing....just get creative...seller second, offer additional collateral, etc.