Buying Multi-Family Dwellings

Any creative suggestions on purchasing a small apartment building with very little cash available to me?

Comments(5)

  • InActive_Account16th August, 2004

    myfrogger,

    Just curious, what were your situation: lease option, how did you approach? Can you share this very interesting case?

  • alexlev16th August, 2004

    Lots of people here who can give you some great advice. But first we need some details. Price, expenses, seller motivation, your available resources, how's your credit, etc.

  • myfrogger16th August, 2004

    The same creative financing techniques can be applied to multi family housing as single family housing.

    I came pretty darn cose to picking up a 180 unit complex for no money down but I walked away at the last second. Something good happened to the owners and they weren't quite as modivated as they were before. Good for them but disappointing for me.

    GOOD LUCK

  • REPrincess24th August, 2004

    Well I have a 50K HELOC, 15K in business account, 42K in 9mth CD that I can take chunks at a time and replace without penalty.

    I need to start making 3-4K a month. What do I need to start doing this? My company has one credit line with a National gas company. My credit score is under 680 and my husbands is around a 658 mid score.

    NO BK's, Judgements, Lates, or derogatory anything ever.

  • maw24th August, 2004

    You need to look at reducing the amount of credit you are using. In order to get better scores you shouldn't use more than 20% of available credit

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