SS22: How Do You Buy a Multifamily Property with No Money
Welcome to Strategy Saturday; I’m Charles Carillo and today we’re going to discuss the different techniques investors are able to utilize in order to purchase multifamily properties with little to no money. Looking to buy a multifamily or residential real estate investment property, but not keen on getting a traditional mortgage from a lender? Here are your alternative options, including how to purchase your property for no money down. Types of Multifamily Properties ●Commonly referred to as apartment buildings or apartment complexes ●A property must have at least two adjacent housing units, either horizontally or vertically, to qualify as multifamily housing, these include: Types of Financing Options ●Federal Housing Administration (FHA) loan -Ideal for purchasing Duplexes, Triplexes or Quads -Although the 1-4 unit property must be owner-occupied in order to qualify for an FHA loan. However, with this type of investment property loan, the down payment can be as little as 3.5%. Compare this to the traditional 20-25% down payment of a conventional bank loan. ●Hard Money Lenders -While hard money lenders, who are essentially just private lenders who invest in real estate may not require a down payment in some instances (unlike a bank or other lender), if you’re target property is already generating a stable, consistent cash flow on a monthly basis. Their financing will be more expensive in terms of the rate of interest charged and fees, with normal interest rates anywhere from 9% - 15% being common. As you can see, there are plenty of viable options for purchasing property with little or in some instances no money down, it's just a matter of determining which is right for you depending on the type of property you are looking to purchase, where, and how. 💜 Subscribe to my channel: http://www.youtube.com/c/HarborsidePa... ================ About Charles Carillo I appreciate you taking the time out of your day to visit my Youtube Channel. My name is Charles Carillo, I’m a licensed Florida real estate professional, an Eagle Scout and I first became a multifamily real estate investor in 2006. I am originally from a small town in Connecticut and moved to Florida in 2012. While I was growing up, my father owned dozens of commercial and multifamily properties that he self-managed with a small team. This experience was priceless in shaping my future business and real estate investing career. Unlike other real estate investors that take a “hands-off” approach to property management, I self-managed my properties for years before hiring my first professional management company. During that time, I learned the intricacies of dealing with; tenants, contractors, superintendents, brokers, lenders, and attorneys. I purchased and renovated multifamily properties; some completely vacant, and turned them into profitable investments that I still own today. In 2016, I founded Harborside Partners (https://HarborsidePartners.com), a real estate syndication company that offers other active investors and passive investors alike, the ability to partner with us and purchase larger, more profitable assets. We have designed an easy-to-navigate website that delivers volumes of free education along with a blog that features educational articles and the latest real estate news. Additionally, I host a real estate investing podcast called Global Investors Podcast (http://GlobalInvestorsPodcast.com). After years of traveling the world for work, I realized that there were many foreign investors who were interested in investing in U.S real estate but did not know how to go about it. My podcast focuses on international (and U.S investors alike) looking to invest into cash flowing U.S real estate and features detailed essential information in interview format from; attorneys, active investors, passive investors, syndicators, bankers, brokers, real estate professionals, etc. who work with the U.S and international investors. Connect with the Global Investors Show, Charles Carillo and Harborside Partners: ◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com ◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/ ◾ Global Investors Facebook: / globalinvestorspodcast ◾ Global Investors Instagram: / globalinvestorspodcast ◾ Charles Carillo LinkedIn: / charleskcarillo ◾ Foreign Investing in US Real Estate Facebook Group: / foreigninvestinginusrealestate #StrategySaturday #CharlesCarillo #Multifamily
