Updated almost 8 years ago on . Most recent reply
Prospective Multi- family
I’m new to real estate but really want to dwell into a 4 plex property in Houston. They asking 500K and rent is between 1350-1400. Just trying to figure out how much is required to put down. I’ve read books that say you can get properties for zero down but how true is that? great. If I don’t have the 20% in full to put down what other routes are available? I know the property had some renovations done in 2013. Landscaping looks good and the neighborhood is older but nice. Any advice on what steps to do next would be great.
Most Popular Reply
Hi Willie,
the first question you need to ask yourself is "Why Houston".
I think your first step is to take a deeper dive into multifamily education and learn how to select a market, underwrite a deal, manage the asset and finance the property.
If you don't have the down payment, you can always raise the capital from investors, bring on a partner or try to secure owner financing. These are all strategies that you should focus on when learning how to invest in multifamily properties
Gino