8 plex in gulfport ms

[Alexandra Wells]

Looking to do my first multifamily deal. What advice would you give on financing? 

[JJ Harris]

SBA loans can help with cash flow if you have a solid business plan. Pushing the amortization schedule out to 20 years greatly impacts cash flow. I've done rehab and buy and hold here in south MS and the only time I can get 20-year ams is when building from the ground up. SBA is notorious for being paper work heavy and time-consuming, but it's really no more difficult than any of the banks that are going to require a pledge of all of your personal assets. Best of luck with your investing. Do you go to the monthly REIA here in Gulfport?