Looking to make multi-family connections
Hi there!
We currently own 3 single family rentals. Originally our goal was long term hold and retirement. However, I have changed strategies and am now looking for near term passive income and financial freedom.
I’m looking to move into multifamily and eventually commercial down the road. I am located in Thousand Oaks, CA and looking into acquiring property in L.A. area and Ventura County. With Southern CA prices being so high I am also open to investing out of state as well, ideally I would like to stay local though.
I’m looking for any advice with creative lending strategies.
Cheers!
Amanda
Most Popular Reply
@Amanda Davi There are many creative lending strategies. You can use a Hard Money Lender to purchase a property all cash and then use the BRRRR strategy to invest in the deal. Or use a private money lender- a private lender can draw up a note and lend you the money for a certain amount of interest. The note uses the property as collateral. You can also use a rental contract (lease to own) where you rent the house to a tenant and they have the option to purchase at the end of said time. I actually have a partner here in Tucson that is doing this very successfully. I can connect you with him if you are interested. Another option is seller carry where the owner carries the note. I would check out Matt Faircloth's Raising Private Capital-there are some amazing tips in this book.