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

Comments(4)

  • sanjosee7th May, 2005

    20k is a little thin for traditional financing, you may have to look for owner financing

  • ashwin8th May, 2005

    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 ]

  • jscott429th May, 2005

    thanks for all of the comments.

  • chumah10th May, 2005

    Edmeyer was right--start low and gain experience. then move higher with more equity or cash you can do more.

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