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Updated about 15 years ago on . Most recent reply

Account Closed
  • Real Estate Investor
  • Los Angeles, CA
0
Votes |
50
Posts

Looking for lender for 4-pex

Account Closed
  • Real Estate Investor
  • Los Angeles, CA
Posted

Hello everybody
I'm looking for a lender who can do loan without morgage insurance on 4-plex with max 20% down or even less down payment.
Scenario:
Good credit score
Bad taxes
Purchase price -$425k
Rents are very low. Property generates now about $2200/month, but can bring about $1200/unit
Now 3 units is occupide and one is vacant.
Buyer wants to live in that empty unit himself
Have max 20% down
Do you have a lender for that scenario?

Thank you

Most Popular Reply

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2,223
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Chris Clothier
#4 Ask About A Real Estate Company Contributor
  • Rental Property Investor
  • memphis, TN
3,468
Votes |
2,223
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Chris Clothier
#4 Ask About A Real Estate Company Contributor
  • Rental Property Investor
  • memphis, TN
Replied

You can try Red Rocks bank out of Southern California. I'm not sure on their requirements for down payment, but i know they work very well with investors. Richard Kaye is the owner of the bank.

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REI Nation
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