Updated over 7 years ago on . Most recent reply
Three 4-plex building. Don’t have the hard money...
Hello BP, A set of three 4-plex building came on the market in my area the other day. Rarely are multi-family buildings ever for sale here. How would I go about acquiring this deal? I would obviously need a hard money lender. Just to get the financing. Highly unlikely I could handle this now since I am finishing school, but I do not want to be passing up these opportunities when they appear. Any wisdom is appreciated!
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That doesn't look like a good house hack to me because you won't get a break on financing by living there.
Building cash flow with single family is good however you are going to need equity, not cash flow to step up to a property like that. You could work on some flips, try to find partners with money, or try to wholesale but simply purchasing cash flow properties may delay your goals of buying a property like that. I would look for reno projects to create equity and hopefully in a bit you will have the equity to 1031 into something like that.