Updated over 5 years ago on . Most recent reply
Residential Mixed Use Condo's
Hi BP, I have a tricky one for you. I'm looking at buying a package of 2 condos in an A+ location with tons of value add to increase rents. The issue I'm having is that these are the only two condos in the condo association & the rest are commercial (2 units above store fronts).
I could owner occupy at least one & my partner could owner occupy the other one but I don't believe a residential lender and appriser would ever approve this as a residential loan so my options would be to try and get these two rezoned to a multi-family, get a commercial loan, or possibly seller financing?
I'm open to all options & opinions. Thank you in advance BP