Updated about 5 years ago on . Most recent reply
Large multi family units
Hey everyone. How would you recommend a newbie investor approach delving into the commercial real estate world? I would like to start out with buildings that have 15+ units. I haven't owned any property yet, and all my knowledge so far has come from reading and Biggerpockets. I know it will be exponentially harder to start out in this niche, but this is where my true passion lies.
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William Plymouth So, maybe the obvious question, what do you have to put down and how do you plan on qualifying for a commercial loan? I'm all for passion but it has to map to the real world. If it takes you 10 years to save up 25% down are you okay with that? What will you do with the money in the meantime?
Taking the pragmatism out of it, I am curious as to where the 15 number came from. My average units per property isn't too far off from that but I know I sit in the weird no-mans-land of commercial multifamily. Institutional money typically doesn't touch it but it's out of reach for most individual investors. So how did you arrive at the goal, focus, passion?