First Time Investor

[Collin Lee]

I am looking into investing in real estate, more specifically multifamily homes but I have very little money due to my student loans. The biggest roadblock I am having in my journey is figuring out how to finance deals especially bigger multifamily deals. Any tips or suggestions would help so much thank you!

[Jason Wray]

Collin - You do not need money to buy a home believe it or not now a days.  The state that you live in including the government offers DPA programs.  So you can buy your first primary home using down payment assistance which can also cover closing costs. There are some down falls like having to live in the home and not sell it or refinance or you have to pay it back.

Some have very short periods but its a great way to buy a home with zero down and in a couple of years or more you can refinance take out some cash and buy another home. In many cases values can shoot up and there is enough to pay off the small DPA funds and take out some cash. You also have second lien positions like HELOC or 2nd mtg. That can help you borrower and buy a rental home increase your REI.