How to Get the Money to Buy Your First Multi-Family Property

Everyone wants to be a millionaire. This may sound cynical, but it’s true. The dream of never having to scramble for money or dig change out from between the seats to buy gasoline for a vehicle is one that is shared by every man and woman around the world. Some people succeed, achieving this dream and going on to enjoy great success. Others do not, spending the whole of their lives working low paying jobs and dreaming of a better way of life.

Are you a part of this second group? Don’t feel bad, this describes most of the population. Almost all of the world’s wealth is controlled by ten percent of its people. Would you like to become one of that ten percent? If so, keep reading.

The secret to making (and keeping) money is to invest in property. The need for property never ends and it never changes. As long as people need someplace to live and work there will be a demand for land. Real estate can be a very rewarding business, both financially and personally. The satisfaction of purchasing a property at a low price, rehabilitating it and turning it around to become an income generating machine never dies.

The truly intelligent figure out quickly that the best way to make money from real estate is to purchase a multi-family property, rehabilitate it, rent it out and allow it to generate a passive income for them indefinitely. The more property they are able to accumulate and get to work for them in this manner the more income they are going to be able to enjoy.

The problem (as anyone who has ever attempted to purchase a home can tell you) is that buying property, even property that needs to be rehabilitated, does not come cheap. You cannot make money in the real estate business unless you spend money; on the other hand, you do not want to find yourself spending so much money that you are unable to dig yourself out of debt.

How, then, can you get the capital to purchase property? There are a number of methods. The easiest is to take on a partner who has the means but not the time. They will front you the capital to purchase the property, you will do the work to repair and rent it and both of you will split the profits 50/50. This is the most guaranteed method, and will provide you with a sounding board if you find yourself running into problems.

Of course, you’re not going to want to split your profits down the middle indefinitely. Once you have accumulated enough income to start buying some property it is time to explore the “flipping” strategy advertised by the real estate investors on tv; the process of purchasing and rehabilitating a single family home, then selling it for a big chunk of capital. You then take this capital and use it to put a deposit on a multi-family home.

Both of these methods will serve to get you started; of course, as you begin to succeed in the business you will find that you have more than enough capital to expand dancing at your fingertips.

How to Get the Money to Buy Your First Multi-Family Property