how to start big in realestate?

Question

finances are on the check mark in my area. running the math I will have either a few hundred grand in savings, stocks, or equity in 1-4 unit property's within a couple years going at my pace. however while I am saving this massive load of cash and sacrificing a great deal to do so. I don't want to start small, what do I do to start with large apartment complexes.

is getting lending for those deals more of a sales game. or is it more strict like smaller units and investors where they don't budge on your ability to sell them.

I can get the down payment. do you think I would be able to convince a bank to lend to me if I find a deal that makes sense?

I know I don't have property management experience I figured I would just hire a company. or do banks usually not lend on these? should I be seeking private money?

Account Closed · Answer

@Brad Pietrzak bring on a partner who has experience, and make sure you both have skin in the game. Find a killer deal, but make them provide resources commensurate to their investment and returns defined in your operating agreement. Of course, become extremely informed on the space, moreso than a new investor would think. Start working on a relationship with a commercial lender.... or perhaps piggy back on an existing one but start to integrate yourself in that banking relationship sooner.

Exavier Hamilton · Answer

To piggyback off what Elliott said you can bring in a partner and go the Private Money route.

You can qualify for private money by yourself the partner will be for experience sake.  You can acquire your properties now, make payments just like any other loan and refi in 3, 5, or 7 years.  By that point your savings has risen and your even more appealing to the banks by now having assets to use as collateral.