Updated almost 3 years ago on . Most recent reply
I'm trying to buy an apartment complex without having millions
Bigger Pockets.. Its been a long time. Since my last time on here I've successfully purchased my first investment property. A triplex, currently trending to have a full ROI in around 4.5 years. Seeing the potential and already having a goal of one day owning an apartment complex or neighborhood, I'm not wanting to see what it takes to successfully pull it off. I'm not overly liquid to be purchasing a 3M property and putting down 25% plus closing cost/etc. How do you guys do it? Is there some kind of financing specifically for large properties? To give some context, I'm a 780+ beacon with a 6 figure income and I've always tried to have immaculate credit for the goal of 1 day utilizing it to purchase commercial real estate. Any tips in the financing area would be appreciated because I know this post is somewhat vague, but I'll answer whatever to anyone wiling to share. Thanks
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A credit score means nothing. Experience means everything. It's very hard to go from a tri-plex to a 10+ unit apartment complex without understanding 90% of everything in between. It's rare for investors to take that jump alone. I agree with everyone else. I'd continue buying and building your army (doors) with the plan to combine forces (investor partner) and step up to bigger deals.