Updated over 2 years ago on . Most recent reply
Scaling Fast in Multi-Family - How Would You Do It?
Hey BP,
My goal is to take out about $100k a year from rental income within the next 4-5 years. As of now I have a full-time W2, and I am house-hacking a 2 family near southern Bergen County, NJ. My market is too expensive for BRRRR (with my current liquid assets), so I am thinking my main options are sub-to, seller financing, or private funding deals. How would you do it? Are there other methods I may not be considering?
Thanks!
Most Popular Reply
Hey Brian,
We've been looking into the seller financing option a lot more recently. Some of the markets I am focusing in on are seeing some real price stalling and reductions, leading to desperate sellers. As I am sure you know, you have to find the right seller to agree to terms with you. However, if you can get the deal you want, than stabilize the asset and find your exit strategy (refinance to conventional, sell, lease-to-own to another buyer) seller financing could be a great strategy in the next few months. I do not know much about the Jersey markets, but I will be relocating to the D.C area shortly and facing similar conditions with an expensive market.
Best of luck!
We've been looking into the seller financing option a lot more recently. Some of the markets I am focusing in on are seeing some real price stalling and reductions, leading to desperate sellers. As I am sure you know, you have to find the right seller to agree to terms with you. However, if you can get the deal you want, than stabilize the asset and find your exit strategy (refinance to conventional, sell, lease-to-own to another buyer) seller financing could be a great strategy in the next few months. I do not know much about the Jersey markets, but I will be relocating to the D.C area shortly and facing similar conditions with an expensive market.
Best of luck!