Originally posted by @Michael Wentzel:
@Dawn Oree
Well done. I own a few single families and two small multi-families (2-4 units). I was just looking at a 9-unit online tonight and running the numbers. I am trying to figure out how to make the financing work.
How many multi-families did you look at? How many did you offer on? Did you use a commercial realtor? What's your strategy for financing?
I'm in a similar situation and just looking for tips.
Mike
Mike,
Sounds like you're further than most of us! I looked at two. I offered on one of the two. I didn't look at them both for long. I chose the the one I felt was right for my strategy and offered on it. My offer was accepted. My Realtor is also my mentor. She's helping me learn the business. I knew her for a year and watched her before I asked her to represent me. I trust her. Funding Strategy - I found a place that will do my financing as a rookie and be my partner. In 12 months we will change the partnership and I'll be full owner.
My tip to you - search everything you can find to get the financing you need for your deal to work. Don't stop until you get all the money you need.
