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Hi there! I currently own one SFH that I rent out, but I'd like to get into multifamily investing (ideally 10 units to reduce risk from evictions). I have about $800k saved up, though I'll likely want to only put down $600-700k in case of emergencies. What is the process of getting financing like? I understand some of the technical aspects behind it, this is just my life's savings so I'm trying to get as big of an understanding as possible so I'm not unprepared.
And am I even being realistic with my plans here? I'd like to spend at the most around $2 million on a property so I'm not overleveraged and I'm not risking losing my shirt if there's a recession. I obviously would need positive cash flow for any deal to work.
Thanks in advance for any advice you can provide!
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- 1 year ago
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