Buying Apartment Complex With $400k Down Payment

[Jason Baker]

I’ll be selling a house in California in 2021. I expect to conservatively have $400k from proceeds. I am looking to use that amount as a down payment on an apartment complex or storage facility. Is this a reasonable amount to bring to the table on a decent property? I live in Florida and would ideally like to have a property close to home but I’m open to other states since the property would be under outside management.

Thanks and best wishes to all for a healthy and prosperous 2021 🇺🇸

[Aaron W.]

@Jason Baker The amount of down payment really depends on the property you are looking to acquire. Before deciding a property, what are your goals with investing? Are you looking for cash flow or appreciation? Do you need cash flow now or can it wait?

What are your buying criteria?  What markets are you looking?

Good luck with selling your house!