Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Financing a renovation for a owner occupied Multifamily Unit
I will be purchasing a multifamily unit (ideally a triplex) and I plan to live in part of it. I have been looking at units in the price range I have been pre-approved for and they all seem to need a few updates to where I'd feel comfortable living there. If I find a tri-plex priced under my approved financing price, can the difference be used for renovations? What type(s) of loans do I need to seek out to be able to update the tri-plex. What other options do I have for updating? Just to be clear I am talking about cabinets and maybe flooring.