Can I Make It Happen With 20,000?
I am a new investor and I want a 5-10 unit building. In my area they are in the range of 400k- 500k. what are my options with 20,000 available. I have great credit. I would take a 2 or 3 unit but if it is possible I would like to go bigger. should I start off small and then move up. thanks for any comments
20k is a little thin for traditional financing, you may have to look for owner financing
One way to deal with small down payment is go for owner occupied properties. You could try for a small property like 3 to 4 units and live in one of the units, That may help you in getting financing with lower down payment. [ Edited by ashwin on Date 05/08/2005 ]
thanks for all of the comments.
Edmeyer was right--start low and gain experience. then move higher with more equity or cash you can do more.