If you are looking at investing in real estate, multifamily units could be the way to go. First, the demand is high and rental income offers the perfect way to build equity and pay off your investment. Worried about money to invest in property? There are some tips and tricks that may help.
Here is how you can buy a multifamily property with no money:
Private Loans
Ask around and find someone to loan you the money needed to invest in your multifamily property. A private loan can be just what you need to move ahead on time-sensitive projects and multifamily developments.
Investors
Similarly, find yourself an investor that will provide the money needed for the project for equity in the investment. That is, you are promising them something in return for the cash used to invest. They may cover the property down payment, for example, in return for a portion of the property being purchased.
Resources
Are there available resources on the property that could be worth something later? Some materials that may be sold to generate fast cash include timber, soil, agriculture, stone- and many more!
Hard Money
Are your credits score a problem? If so, you may choose to look for hard money lenders, instead. These lenders are often private businesses or individuals that will loan money to start-ups based on the revenue potential of the investment, rather than the primary borrower’s credit history. A hard money lender may come through when conventional banking institutions will not.
House Hacking
Another way to finance and fund your endeavor is to rent out part of your dwelling to generate extra income to use for investing. For instance, got a spare bedroom? Rent it out to a college student or visiting tourist.
Crowdfunding
Another way to earn quick cash for investing is through Crowdfunding. This allows you to pitch to a wide audience of potential investors for startup money; so you hopefully end up with a lot of smaller investors than one main source.
This is a great time to invest in multifamily real estate, like apartments. Talk to the industry professionals at Revenue Park LLC; they can help you identify funding sources for your real estate investment- and more!