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Updated almost 4 years ago,
Getting started in MF with 100K
Newbie here, no deals. My goal is to buy and hold and invest for cash flow. I've done a solid amount of educating to the point where I feel like I am ready to take action. I want to start my REI career in small MF 5+ unit properties in Michigan. I want to BRRR but there's no way I can with 100K for what I'm looking for. On the other hand I can use my 100K and potentially use it as a down deposit for a 5+ unit property but then all my 100K is tied up. Right now, I do not feel comfortable partnering and only want to use my own 100K (I understand I'm being stubborn and creative financing is a big aspect of it and is probably like asking for advice on how to swim without using your legs). Given my circumstances, should I just continue saving more so I have enough to BRRRR with my own money or use my 100K to pay for a down payment meaning all my capital is tied up for a long time? Or any other solutions I am not seeing? Thanks!