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Updated 12 months ago on . Most recent reply
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Multi Property Purchase
I want to find and purchase a multi property. Who are my resources in Bigger Pockets for finding those deals and who are my resources for funding/financing?
I had a call with a company- REI Accelerator they are a 6 year old company with founders who have been involved in Purchasing/funding Multi family and have 30 + years experience. They are selling their program to mentor and help you reach that goal in 6 months (Me Calling leads from Listsource.com to find deal, Finding owners (propstream) having discussion, Sending Letters of Intent (after they have ran the deal thru an analyzer to make sure it makes $ sense, Then finding the funding/investors in their network) and then to help you stabilize and refinance and pay off the Investors/Syndication. I'm sure there is more to their program - that was my takeaway after 45minute phone call. This program is pricey $12,000 approximately. I'm now sure of how Syndication works?? I thanked him for his time and told him I had just joined Bigger Pockets and was hoping to accomplish my goals thru Bigger Pockets.
Is it possible to find funding without the normal 20% down to fund a Multi Unit property? And another question I have I'm not sure if my business is set up correctly to get those funds. Seems like they want your rental properties in an LLC. I have my LLC but have two rental properties under my name currently. I have been struggling with finding the right person to help me set up and tell me what this should look like. LLC or Ccorp? Struggling for answers and correct direction I need to head towards. Appreciate any positive feedback/direction or contact information you would like to share.