Buying a commercial multifamily apartment can seem like an impossible task. It can feel out of reach to imagine owning one of those high rise apartment buildings downtown, but owning one actually isn't that far. Many years ago, buying commercial real estate used to be reserved for people with unlimited access to wealth and resources, today thanks to multiple outlets, information about buying a commercial property can be found on social media, podcasts, blogs and vlogs. The internet has helped demystified the realm of commercial multifamily apartment and thus revealing the many affordable ways to own a multifamily apartment.

Having an affordable option to buy apartments is important because it levels the playing field for those that may not have the trust fund or rich uncle. Although these buying options are used by the wealthy, it can also be used by someone who is not. Here are 3 affordable ways to buy a commercial multifamily apartment.

#1 - Seller Finance

One affordable way to buy a commercial multifamily apartment is through seller financing. This type of transaction helps you purchase the property without having to worry about getting a bank loan or going through traditional financing process, which can be very time-consuming and difficult. With seller financing, the owner of the apartment building will work with you to find an affordable down payment and monthly payments that fit within your budget.

#2 - Master Lease

Another affordable way to buy a multifamily apartment is through master leasing. With master leasing, you will essentially be entering into a long-term lease with the existing owner of the property, who acts as your landlord. This allows you to avoid many of the costs associated with purchasing an apartment. For example, you won't have to worry about paying for maintenance or upkeep on the building, and you can typically set monthly rent prices that allow you to make a profit.

#3 - Syndication

A third affordable option for buying a multifamily apartment is through syndication. With syndication, you will be working with a real estate investment group that pools their money together to purchase the property. This allows you to access more capital and resources than you would if you were going it alone, making it an ideal for someone who wants to spend little to no money out of their own pocket.

Each of the options above can be complex and require attorneys, realtors, and others that are experienced in setting up these kinds of purchasing options. If you are new to commercial real estate and are interested in getting started join a local meetup or Facebook group and network with the members to find a mentor. Most people will charge for working with you, but it is worth the investment. Overall, there are many affordable options for buying a multifamily apartment and by using one of these strategies, you are one step closer to owning that downtown apartment high-rise. Which option are you most interested in?