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Updated over 3 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
Marc Thomas
  • Rental Property Investor
  • Harrisburg, PA
2
Votes |
8
Posts

Trying to Multi family investing w/not enough money

Marc Thomas
  • Rental Property Investor
  • Harrisburg, PA
Posted

I’m ready to invest in my passion…multi family homes but I have a dilemma. 
I have been wanting to invest in multi family but getting my affairs in order before I do. I owe taxes and currently handling that now; I have a tax attorney assisting me with this issue. Now I'm ready to dive into investing. I am saving up capital so I will have the option to get a conventional loan on the properties I have my eye on. I haven't forgotten about the FHA loan but I know that I would need either a triplex or quad to have enough for CAPX and to have a profit.
I want to know how do I start out if I don’t have enough capital as of yet but my credit is good ( 700+). Would I be able to leverage my credit and my previous work history to get started? I have the momentum and I don’t want to lose that. I’m also nerves about what may be said about the taxes I owe when trying to purchase. Can anyone help me with these questions/concerns? 

Most Popular Reply

User Stats

540
Posts
333
Votes
Carini Rochester
  • Investor
  • Rochester, NY
333
Votes |
540
Posts
Carini Rochester
  • Investor
  • Rochester, NY
Replied

Get your taxes paid off. The government is the most expensive and viscous creditor there is. Pay your taxes.

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