All Forum Posts by: Charles Carillo

A savings account or money market is your best bet. You can get rates around 2.45% currently with no long-term commitment (unlike CDs).

Hi @Clifford Gray

The small regional banks and credit unions are going to be your best bet for multifamily investors. PM me (include your email address) and I will make some introductions to banks we know have an appetite for multifamily.

@Akheem Gauntlett

The days of Carlton Sheets and no money down are over for the most part; especially in this market. What you could do is start networking with local investors and possibly find older investors that you have formed a personal relationship with that might provide owner financing on their properties that requires a low down payment.

@Tek Kim

Sounds like you need a new manager. Speak to local investors and get referrals. Referrals are the best.

@Brandon Ray

Who will be doing the repair work if you purchase the property? I would bring them along. If they are hesitant, tell them you will pay them for their time.

@Brandon Tobalski

Welcome to BP! Even if you do not have money for a down payment I would start getting involved with networking. Start attending your local meetups and any conferences near you. Have you ever considered wholesaling to build up money for a down payment?

@Tiara B. If you are going to get serious about wholesaling, I would suggest setting up a LLC or S Corp (speak to your accountant) for the wholesaling business. If this is a short term venture, you can use the same LLC but down the road you do not want to be wholesaling under a LLC that has actual assets. Honestly, one wholesale per year will cover the corporation fees and accounting fees. This way if a contract goes south, you are not risking your long-term assets.

@Thayer Hood here are some great books:

Multifamily Millions by Dave Lindahl

The ABCs of Real Estate Investing by Ken McElroy

The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges

Commercial Real Estate Investing by Dolf De Roos

Trump: The Best Real Estate Advice I Ever Received by Donald Trump

Tax Free Wealth by Tom Wheelwright

Commercial Real Estate 101: How Small Investors Can Get Started and Make It Big by David Lindahl

Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money by Matt Faircloth

The Definitive Guide to Apartment Marketing by Josh Grillo

Investing in Apartment Building by Matthew Martinez

Crushing It in Apartments and Commercial Real Estate by Brian H Murray

The 7 Secrets to Successful Apartment Leasing by Eric Cumley

2 Years to a Million in Real Estate by Matthew Martinez

Burn Zones: Playing Life’s Bad Hands by Jorge Newbery

Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request by Michael Reinhard

It’s a Whole New Business!: The how-to book of syndicated investment real estate by Gene Trowbridge

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@Andy Murray

https://www.cit.com/cit-bank/

2.45% savings rate