Smart ways to finance an 18-unit rental property

[Preston Pierson]

Hey BP team!

I currently own 3 rental units (one duplex and a basement apartment), and have found what looks like a game-changing rental property for sale. This is an 18-unit complex in a growing area that recently went up for sale. The numbers so far make sense if I can get the property.

I need some tips as far as making the financing work, because the down payment alone is around $500k. Is a hard money lender the best option? Is this sketchy on top of financing the property itself?

If you have experience with multi-unit properties like this, I'm a newbie and would love to hear!