Planning for my 1st Multifamily REI

[Kim Smith]

Hi Everyone, I'm fairly new to BP and I've been dedicating some time to become educated on REI as well as reading a lot of posts. I have a goal that by the end of next year, I would like to make my first Multifamily REI investment. My goal is to start with a triplex or fourplex. How much should I aim to have saved for a down payment/allocate for such an investment? I know it will be based on the price and location but maybe someone has some advice based on the experience they have in investing in the multifamily that I've mentioned. All advice is welcome! Thank you in advance :) Kim

[Jonathan Twombly]

@Kim Smith in addition to @Andrew Johnson's excellent response, you also need to make sure that you have money set aside for the closing costs you encounter.  There will be legal fees, loan points, inspections, and other things to take into consideration as well.  Be sure to take those costs into account so you don't come up short.