How much of a building can I own with one million down payment.

>>1219756
wtf do you mean? If you want the most space I guess a warehouse will allow you to own the most square footage for your money.

People don't ask these questions whenever they're looking for purchasing real estate, as this isn't a metric that correlates to producing income from the property.

Do you have the million with you in cash? I know lots of places for sale what's your address I'll be right over

>>1219756
Depends on your income

>I'll just buy the biggest building I can and make money by selling the space as apartments or something. I don't know, man
>rips bong
>attaches lambo pic

>>1219756
Well, you might be able, and I really stress might. You could get anywhere between 7-9 million depending on your income as well.

Most banks that do residential loans wont touch a loan like this because you are not an established company with a track record of income.

Your best bet would be to get a bridge loan that would cover 60-70% of the purchase of a building. You could also get a mezzanine loan to shore up the other 30-40% if you wanted more cash on hands for renovations.

Once you prove successful income from the building (2-3 years), you can take out a permanent loan that would have a much lower interest rate.

To get the ball rolling you would need to contact a financial company that does residential capital investment financing. A residential bank, as I said, will not touch this deal (typically).

If I were you, starting out as a beginner, I would honestly just start small, stay away from bridge loans, hard money loans, and construction loans until you establish a broader knowledge of the real estate industry.

>>1220557
is $7-$9 really possible? Most tell me that 25 percent down payment max.

Is bridge loan the same as balloon loans?

The buildings I look at already make 5-10 percent income.

>>1220715
keep in mind that you'd have to maintain shit and it gets expensive, also balloon loan is when you take out a loan and pay smaller increments over the term that you placed with your bank, but when the term is over, your final payment is a large lump sum. basically you pay less monthly and at the end, you pay the amount you weren't paying monthly, at once

>>1220448
>>I'll just buy the biggest building I can and make money by selling the space as apartments or something. I don't know, man
>>rips bong
>>attaches lambo pic

fucking kek

>>1220811
forgot to mention that the reason you'd do this is to use that monthly amount of money to invest, dont be a dumbass and think its just paying less a month, you'd have to pay that money back. almost like a reverse down payment or paying the minimum amount on your credit card debt.

>>1220811
>balloon loan
>renters destroy units
>can't refinance
>yfw you are completely, totally fucked mate

>>1220811
If a $10 mill building brought in one mill income. That should be enough for repairs, mortgage etc. And give you a phat income at the same time.