All Forum Posts by: Cyrus Khan

Great ! Thank you both for your advice. Looks like I should be more careful and not over stretch myself financially.

Josh Caldwell I am also interested in investing in the Pittsburgh multi-family market. Already have 2 investment town-houses. How can I come to the meeting as your guest ? Thanks !

Hi everyone, Needed some advice on how best to raise capital to buy a multifamily unit. I currently own 2 townhouses each worth about 250k-260k each. Both have conventional 15 year mortgages on them at 2.75 and 3.75 percent respectively with 20% down each. Have 165k and 120k left to pay on both respectively. Both are currently rented out. My own home is probably now worth 850k - I had bought it for 705k but have made several improvements. Have a conventional 30 year 4% mortgage plus a HELOC where my position has built up so that I can borrow 25k from it. I want to buy a multifamily unit now probably in the 750k - 1 mil range and I know commercial lenders require a 25-30 percent downpayment. I currently have 75k in cash to put down. My question is; can I somehow leverage my existing properties to come up with the rest of the down payment ? Is it a good idea ? Or shall I wait until I have saved up enough for the down payment ? Any advice/comments would be appreciated !