Buying 2nd property, but I really want a LARGE building.

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(Chicago) I have a 3 flat FHA, closing on a 2 flat under a 5% down loan, but I really want a LARGER building, but all I can usually come up with is 20k for a down payment. Credit is 800, but no way could I come up with 25%. Current building is doing well, I would just prefer not to run all over the city maintaining my properties. I need around 10 or so, or one big apt building. I need financing with a LOW down payment...any ideas? I could make it happen with 1M, maybe a little less.

Look for seller financing opportunities since you have limited cash which you'll need for OpEx and reserves.

@Chris Musser , the best you might be able to do is 10% down on a 4unit building, but would have to be a primary residence.  If you're looking for a 5+ unit, you'd need to find an investor/partner...as this is commercial and will require at least 20% down, if not closer to 30%.  So, in either case you'd need to come up with more to put down (residential primary would be the lesser down payment scenario), bring in a partner, or perhaps sell your building now and parlay those funds.

@Chris Musser , it's a specialty program and very rare.  Not many lenders offer it.  Normally you need to put 20% down on 2-4units, primary residence....or 25% down if non-owner occupied investment.  10-15% down options are going to be less available, but they do exist.  If I can be of any assistance pointing you in the right direction, just let me know.  All the best!