How did you fund your first multi-family?

[Grace A.]

Hi all,

Question for all experienced investors out there: How did you fund your first multi-family? and what would you do differently if you had a chance?

I want my next property to be a multi-family (~$250k-$300k in GA or TX) and I’m thinking about how to fund it. I can either:

Save up $60k - $70k over the next 2 years (not a huge stretch for me based on current income and savings rate) and then do a standard 20% down conventional loan

Seller finance

hard money lender

I think they all have pros and cons. I’d prefer to be conservative and go with a conventional loan, but wisdom suggests there might be better ways to do this. So my question for all experienced investors out there:

How did you fund your first multi-family? and what would you do differently if you had a chance?

Thanks!