How to get a start on multifamily with little money

[Kyle Murray]

I  currently live In plainfield il, and live in a 4 unit complex i own. I am stuck between a rock and a hard place trying to figure out how i get my next 4 unit without mortgaging out my unit i own now. I am interested in finding ways around traditional financing methods and how i get the financing on a new property with little money down. 

I would appreciate any help at all from a seasoned investor. I am 25 years old and trying to pave my way in real estate!! If I can help you to help me I am a team player !! thank you :)

[Andrew Kerr]

@Kyle Murray -  Buy a new small multifamily as your primary residence every year or two. 

You could move out of your 4-plex, and live with family or friends for 6 months. Get the unit you were in rented. Then find a new 4 plex to buy as your new primary residence. You wouldn't need a huge down payment.

If you have a lot of equity in your current property, do a cash out refinance before you move out. Then you have some cash to use as a down payment on a new place.

You can also look at buying a triplex or duplex while still living in the 4 unit, and then move into the new property. The reason I mentioned looking for a triplex or duplex is, that it would be easier to sell to an underwriter that it is an upgrade from your current place. 

Most underwriters are not investors and they are paid to be conservative, they wouldn't understand moving from one 4 unit to another unless you had good reason like the new place is 5 minutes from work and right now you leave 45 mins away. Its also easier to sell it as new primary residence if you are currently renting with family or friends.