How would I finance my first duplex/triplex /quadruplex property ?

2 Replies

I have decided I wanted to purchase a duplex/triplex/quadruplex property to begin in my real estate investing , but really don't have that much money to invest. I have good credit but how would I finance a $100,000 plus property ? 

Elias, I would look into an FHA loan. Given you qualify for one, an FHA loan allows you to put 3.5% down instead of 10% or 20% which are typically down payment percentages done with conventional mortgages.

More info on FHA loans can be found here:
http://www.biggerpockets.com/mortgage/fha-loans/

An FHA loan is the route I'm going to go for financing when I buy my first property in Spring 2016. Good luck.

Originally posted by @Elias Chacon :

I have decided I wanted to purchase a duplex/triplex/quadruplex property to begin in my real estate investing , but really don't have that much money to invest. I have good credit but how would I finance a $100,000 plus property ? 

 How is your credit? How much do you have saved? Are you a veteran? Are you willing to occupy one of the units on the property? Are you willing to work with partners?

There are a thousand variables. There is no one size fits all solution. I can tell you what I did, but that may not work for you. 

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