Hi, im a first-timer on this site and into REI. I have read a little on the different approaches and was leaning towards investing in a multi-unit building to get my “feet wet” I have no prior management skills but am a quick learner. I’d be willing to go 35,000 down and would be rolling with just over 600 for a credit score. If theres any ideas on where or how to start looking for a place id be thankful. Or if theres any criteria/goals I should have in my looking process.
Thanks
What market are you in (state and city)?
Are you looking for commercial (5+ units) or residential (1-4 units)?
I’d most likely be shopping in northern ohio. To be honest I would like to keep the number of units over 3. To go commercial would be great,but I’d accept residential.
100% financing is available, but I would suggest 10-15% down for cash flow and easy approval on 2+ units. Your best bet would be to use the $35k to pickup 2 or three properties with strong cash flow and built in equity. Let the properties season for a year and then pull equity out of the properties to acquire additional property.
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