Apartment Down Payment: How to come up with the 25%?

[Shannon Sadik]

I have been looking at apartment buildings for sale and am wondering how folks make the 20-25% down payment? I have several other rental properties and have been able to implement the BRRR model in order to avoid large down payments at this stage, but how do you do that with an apartment building? It's a struggle in my market to find one that even cash flows after repairs, let alone is at such a great price to fix up and refi. Other than owner financing, which isn't usually an option, I can find a private lender who will give me the down payment, but at a hefty 10%+ and they won't be in second on the loan. And then the numbers don't look good anymore. Is this normal? How do others make this happen? Anyone use a LOC? Thanks for your input!