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Can You Buy An Apartment Building With No Money Down

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Still, a loan assumption will rarely, if ever, cover the full asking price of the apartment building. That said, it can be a great tool in your toolbox, particularly if the seller has a HUD loan or another kind of super-competitive financing in place.

There are several financing options for buying a multifamily property with no money. These include seller financing, hard money loans, private money loans, bridge loans, FHA loans, and conventional loans.

Buying multifamily properties is significantly more expensive than buying single-family homes, therefore, it is usually hard to enter the market as a first-time real estate investor. While banks are usually eager to provide loans, buyers should be able to come with around a 20% downpayment, depending on the real estate market or the size of the property. Source

Construction costs have risen dramatically over the past few years, impacting both ground-up development projects and renovation work. Make sure you do your research and plan ahead with a strong budget before beginning apartment renovations to avoid any nasty surprises. Source

The short answer is: yes, you can. However, there are things to take into consideration before you can buy an apartment with no money down, like your credit score, the type of property you want to buy, the location of the property, among other things.

Additionally, there are options that will require you to put some money down, but these options are much more forgiving as the amount of down payment they require is relatively low and affordable. These options include the