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How to Buy Your First Multi-Family Property

How to Buy Your First Multi-Family Property

How to Buy Your First Multi-Family Property

How to purchase a multi-unit property? 

Are you ready to start maximizing ho much money you make on each property? 

Have you decided that you can make a lot more money if you have more units in one property that just one unit at a time? Well, that means you're pretty smart.

Multi-units are the smartest way to invest in real estate, it's one of the fastest most efficient ways to get it done.

But there's a couple of things that I need to share with you so that you do I right and you make money every time. Let's go.

Galeri Loker going to share with you my big secret on how to get your firs multi-unit property in like the next 30 days (this is super fast) even if yo don't have any money. 

I'm gonna share with you my quick 3-step process to getting a multi-unit that is profitable, not one that's going to lose money. 

You got to make sure you're buying the right property. 

And last but not least I'm going to share with you my super secret insider trick so that you can make double or triple what the average investor makes on their properties.

So, let's talk about real estate investing and let me first tell you the difference between single-family residences and multi-unit properties because there is a big difference. 

And I'm going to quickly explain it to you so you know exactly the difference and you know how to invest in what you're looking for. 

So, of course we have single-family residents, that's one unit at a time. 

That's a house, that's a condo, you know one person can live there or one family can live there. 

Again, it's called single-family residents for that reason. A multi-unit is a 2 or more unit properties. 

So, a duplex, a triplex, a quadruplex or a small apartment building with 10 units 20 units or it can be as large as a large apartment complex with hundreds of units, okay? 

So, those are the main differences but let's quickly talk about even just the differences between multi-units. So, 2 to 4 units are still considered single-family residences in a sense. 

You can still get regular financing on them, you do not have to use commercial financing. 

If you get 5 or more units, that is considered commercial real estate, that is a separate type of transaction when it comes to mortgage financing. And you will have to get a different type of lender for that. 

There's different lending criteria and this is what i want to talk to you about because it is so important because there's so much opportunity in one of these areas for people that don't really have much money for them to get started.

So, we're talking about how you can start to get your own multi-unit properties. Again, without spending very much money and without having to you know liquidate all of your funds or save a bunch of money, I want you to be able to do this quickly.

So, in the realm of multi-unit properties, you have 2 to 4 units and then again you have 5 and up. Remember, 5 units and up was commercial real estate. And in fact, if you wanted to get into commercial real estate it's definitely not very difficult. 

But it is a whole separate type of financing, it's commercial financing.

So, let me tell you the easy way to kind of get some multi units, 2 to 4 units. 2 to 4 units are still considered regular traditional financing. 

You can get FHA lending, you can get government loans like VA or USDA, you can get conventional financing, okay? So, normal traditional financing that does not require you to put a lot of money down.

In many cases, you only have to put down 3% or 3 and a half percent depending on if you're going with a government type of loan or if you go with a conventional loan. Additionally, because we are still talking about primary residences homes at you know single-family homes, residential property, you literally can get funds for your down payment so that you don't have to come up with the money out of pocket. 

There are all of these programs out there, down payment assistance programs, you can use your business credit, I'll share a couple little secrets later for you. 

But again, you don't even have to source the 3% yourself. 

But again, that's a super small amount so let's think about this for a second. 

If you find a 2-unit, just a simple 2-unit, it's a hundred thousand dollars, okay?

You only have to put down 3 or 3 and a half percent. 

So, I'm only talking about like $3,000 or $3,500, this is not a lot of money. 

Additionally, if you don't have a primary residence and i'm gonna tell you about how to do this and you buy this property and you kind of house hack.

You literally can live in this property as a primary residence and you can get all of the down payment from a grant, from a downpayment assistance program, you can get it from a gift, yes, literally it can be a gift from a family member or from you know a relative and things like that. 

So, again there's tons of different ways where you don't have to put any money down and you can end up with multiple units and in this case up to 4 units. So, literally this is how you want to start. 

So, let's talk about a super slick way, okay? This is kind of new, a lot of people aren't really discussing it but there's a few people that have kind of talked about it but i'm going to tell you how to really do it.

And this is called House Hacking. 

So, this is where you literally either buy a property, you live in it for just a few months or a limited amount of time.

You buy it as a primary residence. Again, you're not going to commit mortgage fraud, you're literally going to move into the property.

And you either live in the property for a limited amount of time and then turn it into a rental property or what i'm going to tell you to do is get a multi-unit and you live in one of the units and you release out the other units. 

So, that those other units are essentially paying for the entire mortgage. And in many cases especially if you can get a 4 unit, you're actually making a profit, okay? 

So, again with the 2-unit, most likely you're probably going to break even somebody's paying down your mortgage. You're really not having to come up with much out of pocket.

If you can get a 3 unit, you're probably making money. And if you get a 4 unit you're probably definitely making money.

So, this is House Hacking. This is where you live in the property and then you have the other site that you either rent out and you start making money on and you use conventional financing. 

You use normal traditional mortgages in order to accomplish this so that you don't have to put out much money, you don't have to bring big down payments and you literally can get very very low interest rates. Right now, interest rates are like 3% and less. 

So, this is an amazing time to do this even if you don't have the best credit. I can tell you how to get this done, it's super easy. 

So, this is awesome time. I'm about to tell you a big bonus. 

But before I do this go ahead and make sure you click that like button if you're enjoying the information that I'm teaching you. 

I'm putting all of this content out here for free. And algorithm loves when you push that little like button. Or comment below, I read all of the comments so go ahead and comment and tell me kind of what questions you might have. 

So, let's get to the next point. 

So, the next thing that you want to do is to really make money is like I said if you're going to house hack or if you're going to put some of those units on rental, you can do a combination and start to diversify. 

So, you can do long-term tenants, where you sign long-term leases for like one year or two years and you have that guaranteed money they just pay you one time per month. 

But even more profitable way that I've stumbled upon in the last couple of years that is making me so much money is Airbnb and the short-term rental side.

So, what you can do especially if you have like a 4-unit, you literally can live in one of the units. Of course that's yours, you stay there, you're fine. 

Then you have 3 more units that you can play with. You can put them on long term, you can do one of the units and make it a long term. 

We have a tenant that stays there for a year. And then you can make 1 or 2 of the other units a short-term rental property. 

You put it on Airbnb, Home Away, Vacation Rrental by Owner, Booking.com and you rent it out on a nightly basis On average, I make like $1,500 per month as a minimum on my Airbnb units, okay? That's renting them out even with everything that is going on. 

We rent them out for like a $140 per night. You can see this unit that we're in right now, this rents for like $200 per night. 

So, you actually make way more money than you would with the long-term tenant. Just giving you a quick example, you know this place might rent for maybe $1,200 or $1,300 per month. 

But if I put it on Airbnb and I rent it out for 200 per night, even if I only have it rented 10 nights let's think about that for a second. 10 times 200 that's 2,000.

So, I'd actually be making more money and I do make more money when I go ahead and I furnish them and I put them out and I rent them on a nightly basis. 

But what i'm suggesting to you is do both, okay? I don't have all of my properties as long-term tenants. I don't have all of my properties with short-term tenants. And so, diversifying and putting some of my tenants as long-term tenants and some of my tenants as short-term tenants, this really helps me mix it up and this is a great way on how I make way more money on my properties especially my multi-units than most people could ever even imagine. 

So, another quick thing that I want to tell you about that you can do again especially if you want to buy multi-unit properties and this is new, okay? This is like hot off the presses type stuff. You can create a crowd fund, okay? 

You can do a real estate crowdfund where you pull money together with lots of people, you could do 5 people, you do 10 people, however you want to do it. 

You can do a professional crowd fund where you use a website like truecrowd, that's T-R-U-C-R-O-W-D dot com.

You'll see on the true crowd website, you'll see our crowdfund which is new Nuurez, N-U-U-R-E-Z, that's a company where we've pulled our money together and we're buying properties and multi-units and putting them on Airbnb. 

We're doing a lot of short-term rentals and we're making great profits and we're splitting those profits with our investors. 

Now, I tell you this because this is something that you can do as well. 

So, if you want to start buying multi-unit properties, this is a great way. 

You'd be surprised how many people are interested in real estate and how many people would want to go in on a multi-unit property. 

And it doesn't take a whole bunch of money to do it.

When I say crowdfund, you don't have to raise all of the money to buy the home.

You literally can crowdfund and raise just the down payment or even just the earnest money and do seller financing or some other creative financing type of things to secure that property and then you guys split the profits. 

It's super easy to do, it's not as difficult as people think. 

I want to make sure I'm giving you all of the tools, all the knowledge and all of the resources that you need to be successful. 

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