Ways to secure Investment capital
3 Replies
James Robinson
New to Real Estate from Chesterfield, VA
posted about 1 month ago
Hello,
I reside in Chesterfield VA and last year I purchased my first duplex. I am currently doing short term rentals and it is working well. I am looking to make multifamily properties my niche and searching for ways to acquire more capital to invest in further properties. Therefore I turned to BiggerPockets to see if someone could point me in the right direction. Thanks for any assistance you can provide.
Nick Rutkowski
Rental Property Investor from Ithaca, NY
replied about 1 month ago
If you like going the STR route, I convert MFs into STRs in NY. However, NYS law permits me from converting a MF into all STRs. So I rezone my properties as Hospitality and turn the property into a business.
If you do the same, you might be able to apply for an SBA loan. Because you’re a veteran you could possibly receive grant money ( your DP) for your business venture.
Andrew Schutsky
Investor from Glen Mills, PA
replied about 1 month ago
@James Robinson I highly recommend reading up on this topic as you will develop much further insight more quickly by doing so vs. a few forum answers. One book I've read that I recommend is "Raising Private Capital" by Matt Faircloth.
James Robinson
New to Real Estate from Chesterfield, VA
replied about 1 month ago
Thanks a bunch for the info fellas, I will definitely follow up on all advice given!