Posted by James Harris on May 24, 2007 at 09:40:14:
Ram, you can get 100% financing even for the rehab, as long as you make this your personal residence also. Drop me a line if interested.
Financing for owner occupied duplex - Posted by Ram
Posted by Ram on May 24, 2007 at 24:55:39:
I have a contract to purchase a duplex (3BR 1BA each) for $140K (Bellevue, Kentucky) with seller paying $4k in closing costs. The House is vacant WITH CITY VIEW and needs about $15K - $20k COSMETIC repairs. about $5K to make one unit immediately rentable at $750 - $800/MO. Each duplex can get rents around $750 - $800/mo if rented out. It is hard to get comps to justify ARV for duplex. But if converted to single family has about $250K ARV. I plan on living in one unit and renting the other unit atleast for a few years till I want to sell.
I am self employed (4 YEARS)and have a credit score of of 710. What is best way to finance this duplex with least money out of pocket. Can I get 100% financing of purchase? Can I get any funding for rehab?
Re: Financing for owner occupied duplex - Posted by Ben Carmona
Posted by Ben Carmona on May 24, 2007 at 23:00:00:
100% financing is not a problem for owner occupied properties.
Documentation type can even be reduced doc.
There are reheb loans available offered by several conventional lenders that can easily assist you. Hard money is another option.
Ben Carmona
Re: Financing for owner occupied duplex - Posted by Tom Resner
Posted by Tom Resner on May 24, 2007 at 12:26:08:
We are based in Indianapolis and licensed in Kentucky. I would be happy to help with 100% financing. 866-776-2915
Re: Financing for owner occupied duplex - Posted by Ram
Posted by Ram on May 24, 2007 at 12:18:55:
please send me details at rambachi@hotmail.com