Multi-Family Apartment Investing Rookie

[Sam Eligwe]

Hello all,

I am a full time residential real estate agent. I have been in the industry for for the past 5 years and really love what I've learned, and believe Real Estate is the best industry to begin my path towards financial freedom.

Because of that hard work and through years of networking, I have positioned myself with the financial ability to purchase my first multi-family investment.

I have been doing 7 months of research to familiarize myself with the process as a whole, but now I want to put these ideas and concepts into practice. I am just trying to figure out what is the best way to start? I am thinking to begin with 10 - 20 units to obtain the type of cash flow I am looking for. I just want some tips and advice from those who have done this form of investing and who are currently doing this form of investing.

Any information would be extremely helpful in terms of the ideal DP 20%, 30% 50%, perhaps some nationwide lenders. In addition, I will be forming a separate LLC for each apartment to protect my assets, so how does it work in term of getting approved for the initial loan? I understand the second third will be easier, but for the first investment how will the bank approve me, if I have a team of Investors?

Thank you BP