All Forum Posts by: Nico Salgado

Thanks TJ. I have some people in my network who are interested. I will build on this network ASAP! I’m really in need of a large amount of money for this particular deal. If I can’t find the down payment I may consider wholesaling or just dropping the idea. 

Hi everyone. I’m putting together a big deal and I’m curious about how to find private money. I need 35% of a large down payment in order to get a hard money loan. The project is to build an apartment building. 

I’ll be putting in some of my own money but the down payment for the project will require much more than what I have. 

Any ideas on where and to who I can pitch the idea?

Much appreciated!

David,

Thank you so much for the informative and detailed response. I have only located the land and have not taken any other steps. It’s really a long shot but not impossible. It is beachfront property in Long Beach NY.  It’s a lot that currently has 7 attached triplexes. They are pretty run down and due to flood requirements will have to be knocked down or raised. Only 3 of the 7 are listed for sale. You cannot do anything with just the three triplexes and the owner of these knows that. It’s been on the market for some time. I’ve had various conversations with the listing agent and there are talks of all owners selling but still only the 3 are listed. I would like to begin conversations with all owners (4 different owners). Sounds like a stretch huh?

Hi BP world! 

How would I go about developing a 30 unit apartment complex? What are the first steps? 

I found a location. Do I now work with an architect for a schematic design?

Any guidance would be appreciated