HOW DO YOU FINANCE YOUR DEALS --- WHAT RATE DO YOU EXPECT?
I am looking to get into multi family investing. But I've never even owned a single family rental ! HAHA
I did my first flip and ran the math and fig'd out if I have 10 years, WHICH I DO cause I am 26 years old, then multi family buy/hold is the best over a long period.... HOWEVER, I only have 160K in cash capital. I cant do much with that ! LoL
But I wanna know how you guys run your numbers. cause the devil is in the details...
PLEASE- ONLY EXPERIENCED MULTI FAMILY INVESTORS SHOULD REPLY
So we can all learn !
QUESTIONS !
1)How do YOU finance your multi family deals? LTV Rate? How much of your own cash?
2)What cap rate is your minimum? and more importantly, how exactly do you calculate your cap rate? (Please post the algorithm/math in your response)
3)What percentage rate do you need to make it work?
4)Where is the BEST place to go to get your loan ? broker ? Private ? FHA ?
5) How long before your deal is paid off (average) conservatively estimating.
6)What size plex do you do ? 2-3-4-5-6-7-8 ?
Jesus, I really need a mentor in the multi family arena,
How did you get started ?