New Investor, Looking to Get Into Multi-Family, Little Capital

[Kourosh Abedi]

Hello everyone,

I have spent a good amount of time learning about the multi-family and rental industry and am looking to get involved some time in the near future. I am looking to get into multi-family and/or distressed single-family homes, but have little capital. Are there any recommendations of how I should go about handling financing or maybe even how I should be searching for property. Would love to hear your experiences with your first properties.

[Remington Blackburn]

I'm sure there are people on the BP forum who are interested in providing capital and having you do the work of finding the property and doing the rehab as long as the ROI makes sense.

I would recommend finding an agent in your area to help you find the property you're searching for. Go to meet ups in your area to branch out and meet like minded people. 

Distressed properties = more $$ out of pocket for the rehab. For your first investment (& with not a lot of capital) I would recommend looking for something that needs cosmetic updates compared to a full gutting. If you can do most of the work you can save money on labor.