Buying first multi, need some guidance

[Thomas M.]

Me and a few other investors are going in on a multi family building. There's 4 of us, each bringing about 250K to the deal. So we have a million total.

The plan was to buy 2 4plexes, but I would like to go bigger and just get one building.

My question is this- how do you get out of the "30% down" world and into this "financing is easy for bigger buildings" world.

I'm part owner in a drug/alcohol rehab business and we need to get as many doors as we can. Business is booming and we don't have enough room for all our patients in sober living houses.

Thanks for the tips.

[Jelani Kelley]

Good day everyone,

I've been "lurking" on Bigger Pockets for some time now.  I'm looking to also move into multi-family residential properties (5-10 units).  I appreciate the question, Thomas, because I've been curious about the same thing. 

I look forward to hearing everyone's answers.

JKK