Finding My First Multifamily

[Patrick McCain]

Hello!

I have been reading the forums intently for about a year now, and I am finally about ready to make my first move into multifamily real estate. I have will have 100k in cash to invest at the end of this month, and based on everything I have read, I think I am most interested in a multifamily (12+ units), in a smaller city with growth potential. I would want to put 25% down, so my cap is likely 400k, and I have some cash in reserve for unexpected expenses. I am based in Denver, but I think it is unlikely that I will find anything in this range in the area.

For the most part I have been looking on sites such as Loopnet to see what is available in various markets, but I am sure this is not ideal. Does anyone have any strategies they can recommend for searching for a smallish multifamily in my price range?

Thanks!