All Forum Posts by: Anthia Rymer

Is it possible to get a commercial loan as a first time buyer? I would like to buy more than 4 units but not sure how to secure a commercial loan. I am located in NYS. Thanks. 

Thank you all!!!!!!! Very informative information. 

Once you reach "Level 1" of financial freedom (as Brandon would say), what do you do about health insurance for your family? Thanks. 

After months of researching, I am ready to start investing in a Multifamily! Can someone please share the pros and cons of going to a bank vs a loan originator for a mortgage? I just started to discuss mortgages with a loan originator from Homestead Funding Corp and want to make sure that it's the best route for me. Thanks in advance!

@Brian Rosher, lots to think about... I did not want to BRRRR, but can see why it's beneficial. My thoughts were to buy a building needing few repairs and already rented with the goal of remodeling etc as units become vacant. I wanted an occupied building to start since I still have to learn about renting and managing. Are you familiar with Kingston, NY? I am looking there.

@Jaysen Medhurst, Thanks for your advice. You are right, I need start small and learn the ropes. 

Hello all, 

I am a newbie to REI; looking to invest in the Upstate NY area. I have been studying multi families for almost 6 months (reading, podcasts etc). I have seen properties online and figured, it's time to get in. So I called for a mortgage and was told that I need to put 25% down and can only be a 4 unit max. Which I already knew... Also, I don't want to house hack, as I live in the City and don't plan on moving any time soon. Here's where my discouragement comes:

1. I don't want to use all of my saving as a down payment;

2. I want to purchase more than 4 units (Go Big or Go Home);

3. Even if I start an LCC; I can't get a commercial loan without being in business for a while (so I think). 

Ideas, thoughts, encouragement is welcomed! 

Thanks!