All Forum Posts by: Kory Clark

Hello Everyone,

I have been planning to invest in my first deal. My goal is a duplex-fourplex and I'm looking for deals but I have yet to do anything. I found a duplex that the owner was willing to owner finance. He said "$30,000 but he would prefer $35,000 down to carry the financing" The property is $51,900. What do you guys think of this?

@Andrew Syrios

Thanks. Large apartments are a long term goal for me so I have some time to learn. I'm only 23.

@Joshua D. 

Did you use a 203k to renovate? How exactly does that work with an FHA?

 I'm sorry. Yes I meant duplexes and fourplexes. My thinking behind it was it would be better to transition from duplexes and fourplexes to a few larger apartment complexes. 

Hi everyone,

What would be a better road to take to achieve the goal of earning $500k/year after expenses. buy and hold multifamily or getting out of multifamily and buying apartments? I'm starting off with house-hacking then moving into buy and hold with multifamily unities and I'm not sure if continuing that process or going into apartments would be best for that type of financial goal. Anyone have some advice? 

Thanks everyone! 

@Account Closed

Thanks. I will certainly look into that. 

My credit is not good at all. I'll most likely need to find a partner because I don't have any cash although I did just get hired at Ernst&Young so I'll have some money coming in. Would it be smart to pay off my debts first to help my credit score before I start trying to do deals on my own? 

 I guess the thing that is holding me back is whether I should wait and use my own money or not. I don't know if I'll qualify at banks and I don't know any private lenders. I am still looking for good deals in my area but just because a property is cheap doesn't mean it is a good deal. 

 Yes. I want to buy and hold multifamily rentals.