Process for first 4plex, how to with short income history

[Ryan Rhodes]

Dear BiggerPockets Authors,

I have been remodeling house for the past 7years with family, but am looking to buy my own house. I have been suggested at looking at 4-plexes to fix while earning equity.

I started a plumbing company a few months ago and don’t have enough history, so I’m looking into either a co-signer or gathering enough cash to pay it out right. I have enough experience to do all the remodel, I’m just lacking funding.

I need some help either setting up a plan for being able to make my first real estate investment, looking into angel investors or which lenders will help me get around this.

I’m in Seattle and looking to meet people work on plans and possibly find a real estate mentor to help walk me through and get me started on the right foot.

I have my AA, drafting experience, accounting experience and also obtaining my real estate license.

I would greatly appreciate any comments or things to think about, even templates for budgeting.

Thank you!

[Theo Hicks]

Here are some strategies:

• FHA loan
• Find a commercial broker who will lend on a 4plex
• Raise capital from family/friends
• Find someone to co-sign on the loan
• Private money
• Passively invest first