(3) 4plex - how to come up w/ 25% down??

[Brandon Komp]

Hey everyone!

So I know this already sounds like the question that's been asked forever in the real estate game, but how can someone come up with 25% of these multis for down payment? In this case, it's looking to be about $325k. I know this question gets asked a lot, but to me I don't think I've heard any real answer yet. They say to ask friends, family, talk to co-workers...for various reasons those options either aren't available or not realistic options. And I'd prefer to not have a dozen people make up the $325k. I don't have enough equity in my other properties to cover this, nor do I have enough properties (yet) to move to a portfolio loan. So how does one come up with this kind of cash? crowdfunding site (never worked w/ those before)?

And then, once past that hurdle and because this would be a whole new level, what kind of bank do you go to to get $1M+ in financing? I'm working out of the KC area.

Thanks in advance for the advice!

[Chris Mason]

Originally posted by @Brandon Komp:

Hey everyone!

So I know this already sounds like the question that's been asked forever in the real estate game, but how can someone come up with 25% of these multis for down payment? In this case, it's looking to be about $325k. I know this question gets asked a lot, but to me I don't think I've heard any real answer yet. They say to ask friends, family, talk to co-workers...for various reasons those options either aren't available or not realistic options. And I'd prefer to not have a dozen people make up the $325k. I don't have enough equity in my other properties to cover this, nor do I have enough properties (yet) to move to a portfolio loan. So how does one come up with this kind of cash? crowdfunding site (never worked w/ those before)?

And then, once past that hurdle and because this would be a whole new level, what kind of bank do you go to to get $1M+ in financing? I'm working out of the KC area.

Thanks in advance for the advice!

A lot of REI are fairly high income successful salespersons, lawyers, doctors, etc, or are just very frugal relative to their income level. To wit, there's a joke in my office: