Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
Eight months ago I purchased my first duplex with an FHA loan. I only had to put down $15k, it was great! However I have had a dream of owning large multi-family properties (30 units or more).
How do I go from one duplex to a large apartment building?
Is financing the same, do I need 20% down? That seems like it would take a TON of money
What is the searching process like? Do I just search on Loop net?
@Steven Foster Wilson I started with one duplex in 2010 and now own ~2400 apartments and manage nearly 1000 more as a PM company. My small deals are all long gone but I did have several before I jumped up to apartments.
I know you want to go big asap but your best move might be focusing on getting another 2-4 unit. Remember, there are no shortcuts.