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Updated over 9 years ago on . Most recent reply
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Buying a Multi Family in New England
Hi fellow investors
My goal is to buy a 2 or 3 unit multi family live in one unit and rent out / manage the others.
The problem is the cheapest 2 family in my area is 150k. I have only 10k saved and because I am a recent independent contractor banks will not let lend me any money until I have two years of tax returns. The other problem is most of the multi families under 200k are disasters and not considered "safe, sound, and sanity".
Should I get a part time job where I have a W-9? Or are there other ways to finance my first multi family property outside the traditional banks?
Thank you
Most Popular Reply
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@Rich Hupper Get a girlfriend with a W2. or a partner...
"I am a recent independent contractor banks will not let lend me any money until I have two years of tax returns. The other problem is most of the multi families under 200k are disasters and not considered "safe, sound, and sanity".
contractor + disasters = ding, ding, ding, SUCCESS?