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Updated over 5 years ago on . Most recent reply

User Stats

151
Posts
13
Votes
Allen Lopez
  • Rental Property Investor
  • Baton Rouge, LA
13
Votes |
151
Posts

Financing multi family-unit building advice?

Allen Lopez
  • Rental Property Investor
  • Baton Rouge, LA
Posted

I have been doing real estate for the last 3-4 years. Always SFH and I live it. It's been going great.

I want to go even further with my journey. I want to buy an apartment building/complex (12-20 doors).

I have about $15k in my bank account so that won’t get me anywhere. However, I have about 300k in equity that I can pull from my other investments.

Average price for a building in my market is about 500k-1.5M.

I can definitely pull equity from what I have but is it good? I always believed not to get money out of what is already owned but I wanted some advice.

How do big investors do it?

Thank you in advance

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