Apartment Complex Investment- Advice Needed

[Tilottama Bandopadhay]

Hello all, 

First time posting here. We are not first time home buyers but have three single family homes ( rental) properties in California but want to buy our first apartment complex out of state for generating cash flow for the long term. We were thinking of buying in Columbus, OH, Indianapolis, IN and Salt Lake city. Atleast researched these cities till now. My questions are : (1) We are saving down payment of 25% for this - how much should we save for it? Can someone explain how the financing for apartment complexes work, is it similar to SFR mortgages? (2) Are there any property management companies that can help us buy, finance and manage the apartment complexes and where can I find them?

Completely new to this space any advice or recommendation is appreciated.

[AJ Wong]

Hello. Three areas we've been seeing a lot of investor mortgage demand in. Typically over 5+ units 25% down is optimal but 20% is possible..I don't think I'd recommend a property management company for your search, likely a multi family focused investor RE broker and strong nationwide lender. Interview a few PM's, potentially the RE broker has suggestion? Check in with @Joseph Chiofalo for financing up to 29 units..