Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Justin LeGeune
  • Tullahoma, TN
0
Votes |
1
Posts

Buying Apartment complex but no money?!?!?

Justin LeGeune
  • Tullahoma, TN
Posted

Im looking at getting into real estate and purchasing multi-family. found a real good deal for 3.5M - 4M purchase price good income and 92 units but i dont have to 20% bank would want, is there a way to get 100% financing as long as the DSCR is good enough? I dont really wanna get a investor loan for 20% for DP then bank loan for rest - roughly come out to $30k/month with investor getting 25% ROI at least (just a guesstimate) then gotta deal with paying bank and him, rather just have one lender and pay him X for next 15-20 years

Most Popular Reply

User Stats

9,940
Posts
15,991
Votes
JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
15,991
Votes |
9,940
Posts
JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied

Questions in no particular order:

1 & 2: What kind of experience do you have/how do you know this is a good deal? These questions go together, because, based on your post, it appears you have little to no experience and thus no experience to even begin to know if this is a good deal. 

3. How much money do you have? If the answer is none, you're going to have trouble getting financing for a $10,000 car, much less a $4 million apartment complex.

4. What skills do you bring to the table in operating a 92 unit complex? 

My prediction: you are never going to find anyone who is going to help you finance this, so set your sights lower. Way lower. Like maybe a house hack for starters. 

business profile image
Skyline Properties

Loading replies...