Multifamily

[Justin Wragg]

Hello All,

I am Justin Wragg.

I currently own a Food truck in LA and have been trying to get into real estate for quite some time now. I have been very close to closing several deals but have yet to get one done. I have worked on everything from local(CA) wholesale deals to buy and hold Multifamily deals (NC,AZ,FL,NV). I have had issues with both. The wholesale deals i was getting had to many other wholesalers involved making each one way to complicated and convoluted. With the multifamily deals i received, I had a hard time getting funding as i don't have really any capital to purchase for myself. I really want to focus on multifamily as it is the same amount of work as SFH and i heard funding was easier as it is based on the income. Is there anyone who successfully started with multifamily? I want to get some deals under my belt.

Is there any individual or company that funds 100% of multifamily deals based on how strong the rental income is. I will take a small amount of equity and a finders fee. If not what other options or strategies can i implement to get things done. 

Also are there any real, deal by deal based mentors out there?

Thank you for your time?

[Jeff B.]

The hard part is the 25-30% down payment LTV for MF units. Thing of a partner to contrib the down payment and you all the work to be split 50/50 when sold?