Starting in multi family

[Stephen D.]

Hi all, I have been doing a lot of research on multifamily investing and underwriting deals for almost a year now. I’m trying to find my way on how to acquire my first deal. My problem is no money and no track record. I’ve been told that if a deal is attractive enough and has had about 5 years or more of 90 percent occupancy a bank would consider lending. I’m looking to acquire my first deal in my area which I’m very familiar in. I have been attending local REIAs but no one seems to show interest in large multifamily and there are no multifamily investment meet ups in my area. My main issue is finding private money for the down payment. Would it be worth trying to use a hard lender? Would they even lend me anything?