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.
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.
@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.
Thanks a bunch for the info fellas, I will definitely follow up on all advice given!