Newby
what should i look for when looking into multi-family investment? i would like to purchase a 4 or 6 unit apartment building. i would appreciate any advise as to what to avoid and what to look for to make a sound investment. thank you.
I would recommend that you start out with 1-4 unit properties because you can get 100% Non Owner Occupied loans easier. Most lenders will even let the seller contribute to your closing costs as long as the house appraises high enough to cover the additional expenses. Properties with 5+ units are considered commercial, and often times the only financing you can find is 90% plus closing costs. Have fun
Jessica
Note: edited by moderator for posting contact info. [ Edited by woodsong on Date 04/20/2005 ]