Hello all, I'm new to investing. I have one single family that I rent out. However, I am interested in investing in multi-family. I live in Tampa, Florida and want to buy property near USF and deal with students. (Is this a bad idea)? What financing options are there that do not include me living in the home? I do not have a lot of upfront money however I am a newer real estate agent and would be willing to leverage my commission if possible. Any suggestions would be greatly appreciated.
Hi Nicole-- I can't offer any advice on creative financing-- but have you seen this MF property that was just listed? It's an eight-plex near the university. Numbers look good-ish... ;)
Multi Family Creative Finance
- Buy Sub2 with or without note
- Buy Lease Purchase
- Buy on a wrap
- Buy Master Lease Option
- Control Master Lease
See my blog for more info
See @Ben Leybovich 's awesome Creative Finance for Multis www.AskBenWhy.com
There are numerous resources on this site, and many people who will help lend advice and caution. Make sure that you don't leverage yourself up too much without understanding those risks.
I'd suggest spending some time diving into the private money / partner world. With you being a realtor and having that expertise you can be the one to bring the deal and knowledge utilizing a partner for help financing/ funding.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!