BiggerPockets

Hi Jen...welcome to BP.

I hate to break it to you, but it takes money...plain and simple. I would suggest getting started on some smaller deals, building a bankroll, and later graduating to bigger deals once you have a better financial backing. Gurus will give you all sorts of schemes to get started, but they will prove ineffective in the real world. CRE deals are not for the faint of heart and they require money.

Jen,

Having no money does not make it impossible to get a multifamily deal, it just makes it extremely harder to get one done. The easy thing to do would be to go back to residential investing until you have enough money, but that's no fun. lol

Try getting involved into your local REI clubs and find investors that invest in multifamily. Understand their criteria and what they look for in a deal and then turn the city upside down to get that deal.

Once you find the deal, try to work out a partnership with the investor so that instead of flipping the property to them, you will be able to keep a small percentage like 5 or 10%.

I know the percentage don't sound like a lot of money but the experience that you will get will be priceless. Now you have value to bring to a deal because of the experience from 1 property.

Then you talk to some close friends and family about leveraging your experience to get a great return on their money for the next deal. Then it's full steam ahead! Good Luck

Well I know a couple that has done it. I guess there's more southern hospitality in Houston. A true investor would not let a small percentage stand in the way of them getting a good deal, especially when the numbers make sense. Lastly as long as I get paid and sustain a happy life, I will gladly act like whatever you think I'm acting like.

People are funny. lol

As long as there is a man upstairs, miracles will always exist.... Good luck with your endeavors!

Yup...you participate in proportion to the value you add. If you simply find a deal for an investor you are either a birddog or a broker and get paid as such. In the years I have been chasing MFD or CRE deals I have NEVER seen someone that simply finds a property get an equity stake without contributing capital as well.

In this economy I doubt it. Lenders are looking for buyers with lots of money to invest and not defult on a loan

About the closest I have come to no money down is an owner finance deal with 3,900 to the closing table for partial escrow and title policy.

It was a unique set of circumstances and not common though.