How To Buy Multi-Family Properties With No Money in Orange County

If you want to get into real estate investing, multi-family units can have tremendous income potential! But how can you buy multi-family properties with no money? If you don’t have a good amount of savings put away, the process can seem daunting. Many people don’t know that there are ways to get involved, without paying huge costs upfront.

However, in our latest blog, we’ll share with you…

Methods to Buy Multi-Family Properties with No Money in Orange County

Borrow It

Sure getting a traditional mortgage might not work when you want to buy a multi-family building, but there are still ways to borrow to borrow the cash you need.

  • Use and FHA Loan to buy a multi-family property. The key here is that you need to occupy one of the units per FHA rules. In most cases, you will need to occupy the property for a year. The income brought in from the other units should be able to pay a most, if not all of your loan. Find a place you like, with tenants you want to share walls with, and begin your venture into real estate investing by using an FHA-insured loan!
  • Another option for funding is a private money loan. These are personal loans, between you and another individual. The interest rates tend to be a bit higher, and the loans are usually for a shorter term than a bank loan. However, there are no set “rules” and terms of the loan can be negotiated at any time. This is a great way to get the money you need with the red-tape and hassles of a bank.

Partner Up

By doing some networking, and meeting people in the right circles, you can meet investors you will be able to partner with. Many experienced investors will have the cash, but they no longer want to do the actual work. That’s where you come in. They provide the funding, while you do the legwork. As with other types of funding, all terms can be negotiated.

You can sell and split the profits, split monthly rental income, or even work in an option for you to buy them out after a certain period of time. No matter what you work out, make sure you have everything in writing, even the smallest of details. Make sure you and your partner have a clear understanding of what is expected of each other so you can avoid any issues down the road.

Get Creative

There all sorts of ways you can negotiate with a seller. If the property is run-down, you can work in an “allowance” deliverable at closing, which can be used for repairs, but also towards your downpayment. You will want to be up front and clear about what you are doing being creative is great, but never put yourself in a position where you could be accused of mortgage fraud! Negotiate a “repair allowance” which you will receive at closing. Use this toward down payment

Another creative method would be to acquire the property and have it transferred into your name. The seller and you would set up a contract, allocating a percentage of the profits going forward. You would need to consider what would happen if you sold the property, etc., but this can be a great way to acquire a property from someone who is ready to sell, or who wants to take on a quieter role as far as their investment.

Are you looking to purchase a multi-family property with no money? If so, we can help! Learn about the best method and find the BEST properties in the Orange County area!

Fill out this form now to send us an email, or give our office a call today! We want to help you start your real estate portfolio! 949-625-4533

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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