Financing a Multi-Unit with Student Loan Debt

[Lisa Rispoli]

We're looking for a lender who can help us purchase a multi-family building in NW Indiana. We have 750+ credit scores, decent liquidity for a down payment (we can put 25-30% down), we have modest but stable income, but we have tremendous student loan debt from law school and medical school. In 2019 our income will quadruple. We want to get started now to get the ball moving. Come 2019 we will have great w2 income, and we'll be ready to dive in aggressively with our disposable income. Any tips? Any recommendations for a lender? We live in the southwest suburbs of Chicago.

[Chris Tracy]

@Lisa Rispoli- How about this strategy: Get a bunch of your attorney and doctor friends (ones that are looking to park their money somewhere), pool everybody's money together and go out and buy a property cash.  Who says you need to use a bank?  I'm burdened with student loan debt too and I have ownership in a 36 unit/144 bed student housing deal... Buying apartments is a totally different ballgame vs. residential.  It's awesome!