Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

18
Posts
5
Votes
Ethen Royal
  • Rental Property Investor
  • Warner Robins, GA
5
Votes |
18
Posts

How to finance a 4 plex unit just starting out.

Ethen Royal
  • Rental Property Investor
  • Warner Robins, GA
Posted

Hello BP community, I am working with a realtor who has found me a brand new 4 plex unit for 472,000. Each unit rents out about 1050 a month. I attempted to get an FHA loan with putting 3.5 percent down however I was told by my bank (Navy Federal) that FHA loans only cover SFR and Multifamily units and not triplex or 4 plexs. Is there any other type of loans out there that I could apply for financing? Even if I would intially live in one of the units? I just started an LLC, should I try and get a business loan under the LLC which has no credit or just do it under my name. My credit score is 780 as well. Would a regular conventional loan be good?

Loading replies...