Updated over 8 years ago on . Most recent reply
Multifamily for first deal?
The reason I'm asking this is my small town actually has a property on loopnet that I know exactly where it's at(maybe 6 minutes from where I live) for $1.9m with 51 units and a 9% cap rate. I haven't ran the numbers but if I can find the lender I think this would be a great start since single family is extremely hit or miss in my market. This complex is actually somewhat nice compared to the rest in town.
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My first ever deal, other than my personal residence, was a 20 unit syndicated deal. How will you fund it? Do you have a plan? Have you done the underwriting? Do the numbers work?