How to get money, starting out in this space

[Shiv Jey]

I’ve been in the sfr duplex and fourplex game for about a year and am looking to make the leap into commercial multifamily. I have found a deal. And now since I’ve never thought about financing...I’m realizing I don’t know how to finance this! The price is under 500k. Is there a way to put 10% down and loan the rest? Can I do 10% for a year or two and then refinance into a more typical 25% down 25 year loan that I read about? what services have you used in the past for these types of loans? Thank you all

[Dylan Marma]

I would echo the other comments here & recommend searching for a partner. Ideally, find a partner with experience so they verify the deal is solid & can help you manage the deal properly. Finding a good deal is the hardest part getting started so if you go to local networking groups and share it with experienced investor finding a partner should not be difficult. I would stay open to splitting the equity as tenants in common - your first deal should be about experiencing a successful deal not having 100% ownership. Not to mention you can share responsibilities during due diligence/closing and asset takeover which should make the process much smoother for you.