How do I get into Multi-Family investing with limited amount of money

[Account Closed]

Hello everyone,

I really want to get into multi-family investing. How can I do this? The reason why because we are in a buyers market so it makes sense to invest in apartments rather having to put huge money down for house. I own one rent house now. My plan is to start as a passive is there anyway I can achieve this goal quicker? I don't have a lot of money right now.

Are there ways for me to raise money? 

Or maybe having good credit is good enough?

[Eric Mayers]

Shay, I used the NACA program and can highly recommend it.   I bought a 4 Family in Atlanta with Naca.  I put 3% down, got a rehab loan with them and ended up with a 3% interest rate with Bank of America.  Yes, they are a headache to deal with and they take forever... but after 4 years of living for free and making a little extra after expenses I'm selling for a potential $100K profit... You can buy a lot of Advil with that. 

E.J. Mayers

Originally posted by @Aaron Montague:

@Account Closed 

Here are the cheapest ways into 2-4 unit investing.  More money is always better, even if it is someone else's.

0% Down:
NACA (https://www.naca.com)
VA Loan (http://benefits.va.gov/HOMELOANS/index.asp)
Rural Development Loans (Renovations MAY be included)
(http://www.rurdev.usda.gov/HSF-About_Guaranteed_Loans.html)

3.5% Down
FHA (http://portal.hud.gov/hudportal/HUD/topics/buying_a_home)

3.5% AND Renovations
FHA 203k loan (http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/203k)

5% Down
Homepath Owner Occupied (http://www.homepath.com)

Not as cheap, but come with renovation options attached to the loan:
15% Down
Homepath Investment (SFH only)

25% Down

Homepath Investment (2-4 Unit Buildings)