Updated almost 8 years ago on . Most recent reply
Purchasing a apartment building
Hello , I am new to the commercial side of purchasing properties! I want to purchase a apartment complex, or duplex starting out however want to glean or get information on the best route to take step by step! I have two partners that’s apart of the signication willing to assist with the money down 20-25 % from my knowledge is needed for this type of deal. Please share is there any literature, books you can recommend.
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Anything less than 5 units is not considered commercial unless you are talking about an actual commercial property and not for residential use. There is plenty of information through the forums on here along with Podcast that discuss apartment complex purchases. First thing first is to have your finances in order. Definitely understand exactly how much funds you have to put down (account for 25% for commercial properties) and use that as a determination for how much you can afford. Get familiar with crunching numbers over and over again to know what makes a good deal.