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Updated almost 7 years ago on . Most recent reply

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David Gonzalez
  • Specialist
  • Ocala, FL
1
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Is there a way to buy a 4+ doer investment with 20,00?

David Gonzalez
  • Specialist
  • Ocala, FL
Posted
I don’t want to start with a single family home, if I need to then I will, but I wood like to Shoot higher or the highest place I can start shooting from

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Jeff Kehl
  • Rental Property Investor
  • Charlottesville, VA
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Jeff Kehl
  • Rental Property Investor
  • Charlottesville, VA
Replied

@David Gonzalez possibly but the timing is not great and it would likely be in a bad neighborhood. In 2013 I bought a 4-plex for about $60k in a rural area that (I was told) had been raided by the swat team because of a drug dealer operating out of it. We spent a lot of time and money fixing it up and it has become an excellent rental property. 

But that was a different time. These days it will likely be much harder to find that. Maybe in a rougher area in your town that is improving. Another, safer way to do it would be to find a 4-plex in a decent area, with a lot of deferred maintenance and an older and/or out-of-state owner. You can find places like that by paying for lists from a place like listsource and doing direct mail or by driving around and knocking on doors.

Even if they want higher than you can afford with your $20k you might be able to get into it with owner financing.

In any case, just start doing these things. You will begin to learn the neighborhoods and owners and eventually we will have another down-turn or you'll find a good situation to jump into.

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