Yes, you bought what seems like a good deal on paper, but in reality, you own an old apartment building in a neighborhood with poor security, possibly surrounded by long-vacant shops, streets piled with garbage, and a poorly managed community.

I am located in Maine and have 2 six unit buildings, 2 four units, and a 5 unit. 

Should the bank ever need to foreclose on the property, they can’t sell the building without the land or the land without the building.

This building just sold but here is an example.https://www.realtor.ca/real-estate/27286973/1915-portage-ave... 

The building was vacant as we are remodeling the first floor and had just finished painting the 2nd and 3rd floors and were in the process of qualifying tenants to move in the following week. 

Next up, Wells Fargo is a solid option for building a relationship with a bank that doesn’t treat you like a number.

You never want to build a business that is completely reliant upon another platform that you have no control over.

That is an easy list to build and a much better and safer option than more creative like Sub To.

The best advice I can offer is to focus on building connections.

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.