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Updated almost 6 years ago on . Most recent reply

User Stats

15
Posts
1
Votes
Jheanell R.
  • Fort Lauderdale, FL
1
Votes |
15
Posts

What to do with 70k?

Jheanell R.
  • Fort Lauderdale, FL
Posted

Hey Guys,

Can I get into commercial real estate (>4 unit) with 70k (from house hacking)? I took out a heloc on my duplex to purchase another property. I found a property for $299,900 but was told by bank that the 70 was not enough and that I need coborrower with more income. I reeaaally want to do commercial but is it the wrong timing, wrong building or wrong bank? Should I try another bank or just try a large residential (4plex). Is it possible to get a 5 unit with 70k all in. Need some advice.

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