Help with new multifamily Investment.
Hello Everyone,
I'm looking to buy an investment property in New Jersey, I was looking for condominiums because they are selling for around $150,000.00 for one bedroom, and to purchase a multifamily with 4 apartments in this area will cost somewhere around $800,000.00, so basically, through the years I did not get to any investment that required a significant investment because I did not want to carry a large debt and I don't have a large sum to put as down payment.
So my hesitations about purchasing a multiunits are as follow:
I don't want to carry a large debt.
I like to buy the next property in New Jersey because I'm familiar with the location.
I'm aware that the purchase price is high, and I'm unable or I'm reluctant to invest, so I may be in need to consider a new location to invest in.
I hope that some of you who experienced the same "problems" can share your experience and how you wore able to invest successfully.
Thanks,
Daniel
Daniel