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Updated over 5 years ago on . Most recent reply

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Theodore Tasoulas
  • Jersey City
5
Votes |
17
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Financing buy and hold rentals in pricey market

Theodore Tasoulas
  • Jersey City
Posted

Newbie here thinking long term strategy. I want buy and hold small apartment buildings (6-10 units), scaling up to get to over 50 doors within 5-7 years. After initial capital is spent, what are ways to get financing in expensive market- Jersey City. List so far- BRRRR, private/hard money, portfolio lenders, short term flips, partners.

  • Theodore Tasoulas
  • Most Popular Reply

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    Cameron Tope
    • Property Manager
    • Katy, TX
    1,392
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    Cameron Tope
    • Property Manager
    • Katy, TX
    Replied

    How much time do you want to spend on building the portfolio? 

    Finding the best deals will require marketing (door knocking, direct mail, etc.) or building a solid team of wholesalers. I have found the former to be way more time consuming but way more rewarding. 

    As @Farrukh Amini mentioned, it's hard to find the value add (unless you do your own marketing) as everyone is looking for those deals. 

    Buying 1-4 units as your primary residence could be a way to get in with little down and start investing. 

    Best of luck!

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    Emerson Property Management
    4.4 stars
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