Posted by Ralph on May 22, 2000 at 15:21:07:
One way we got started was to move every year. If you move into the double for at least 6 months, you can secure 95% LTV. Check with your lender to see if they have specific requirements on length of time to live in it.
Good Luck 
Need help or suggestion in financing a deal - Posted by Alex_FL
Posted by Alex_FL on May 21, 2000 at 12:44:28:
Hello everyone,
I’m in the process of doing my 3rd deal and still consider myself newbie. My 1st purchase (18 months ago) is my present residence that I bought FHA below market value from a motivated seller. 6 months after, I took an equity line of credit on my house, used half to pay off some debts and half as downpayment on 2nd purchase,a 2/2 foreclosed condo used now as a rental $900/month with $150/month positive cash flow. My home is worth $130k (owe $117k), the condo $85-90K (owe 65K). Asking price of Duplex $129.9K, seller is moving out of town but not very motivated (his monthly payment only $770/month and 1/2 of the duplex is now rented $795/month). 4 previous buyers were turned down lack of financing. Where I live is a real seller’s market and comps for the same is around $135-150K. No repairs needed, built 1990, seller just put new plumbing and tiles (7K). I want to make an offer tomorrow. My credit is very good but I am now short of cash, have only 4-5K. This duplex is 2 2/2 and half is vacant in case of owner occupancy but could easily be rented $775-$800/month. Please any suggestions to do this deal. Worst case scenario will offer full price but seller pay closing costs. How can i get at least 95% financing. Thanks for your help.