Apartment building purchase !!!!!!

7 Replies

@Mahan Shahverdi That's a loaded question. If you never owned one, then your best bet is to find a deal and to bring it to someone experienced to partner up with  so that you can learn from them. Alternatively you can learn from your own mistakes but it can be costly and traumatizing for some folks. 

In terms of financing, it will be difficult to get for your first deal (not impossible, just harder). Again, your best bet is to partner up with an experienced investor and to learn from them.

Best of luck!

I would suggest looking at 4 plex apt. buildings. you can get a conventional loan, and you have the option of either a 30 yr. loan or a 15 yr. loan. Best option is to live in 1 of the rentals at first, then you would only need 3-5% down. Look at the podcasts and webinars, as they have all the info you would need to start. Good luck. 

@Mahan Shahverdi that is an awfully big question. It is hard to answer without knowing more about you, your experience and your financial resources. 

It is also important as to what size you are talking about.; 6 unit, 60 unit or 600 unit. 

The type of financing will depend on the answers above.

I agree we need more information. How big, how much do you have to put down, where is it located, are you willing to do hard money, what is your goal with this property?   Tag me with specific questions and I will answer to the best of my ability.

@Mahan Shahverdi owner financing if you can get it, hard money, or private lenders would be the creative option.  A more traditional way is go to smaller community banks. National investor lenders like Lending One or Lima One are another option. 

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