Congrats on Skipping the SFR Phase and Going Straight To Multi's
This isn't my deal but I want to give a shout out to BP member @Corey Jacobs for not only closing his first deal this week but also for skipping the SFR phase entirely and jumping right into a 6 unit property!
He did something that is brought up often on the BP Podcast. He found someone local (me) and reached out for advice and motivation. Despite only living about an hour away from each other, we've not actually met. However we've had several discussions back and forth about specific deals and about the business of buying and holding income properties in general.
This deal was creatively financed by using a small local bank for 75% of the purchase price and a private lender to finance the down payment. He also partnered with his cousin and they plan on buying more together. It was fully occupied at closing and should provide solid and stable cash flow for many years to come.
If you're new and haven't reached out to more experienced investors for guidance, then now is the time to get off the couch and take action! Most experienced investors love to pay it forward by passing along knowledge and lessons earned the hard way. Just be respectful of their time and be serious about taking action to doing the work needed to be successful!
Pic is of one of the two 3 unit buildings.