Getting Started w/ Multi Unit Apartments

[Marvin Mitchell]

I am just getting started in the real estate game. I own a financial firm in St. Louis MO. So far, I’ve flipped one property and own 2 rentals. I’ve saved several hundred thousand to have enough for a good size apartment multi family, however I’m wondering it will be a better idea to either raise capital or find partners to get an even larger deal. I would welcome any advice or to meet individuals with the same vision.

[Bjorn Ahlblad]

@Marvin Mitchell welcome to BP. Commercial residential has different funding criteria and during Covid it is even tighter. Generally you will need 25% down, pay higher interest rate, net worth equal to loan amount, reserves for 12-18 months and your first born. Partnerships will be one way to spread the burden, look for differing skill sets. All the best!