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Updated over 3 years ago, 08/30/2021
Need advice. First multifamily purchase
I want to buy apartment or multifamily home in the Venice, Marina Del Rey, area. First investment.
Looking for property that is 8 or more apartments. Looking at places with a purchase price of up to 3 million.
I plan to live in one unit.
I would like to get pre-approved for a loan. Any advice or recommendations of lenders?
I have 200K in cash. Can probably get another 100K. Can I get a loan with this down payment?
I see there are loans that allow for 5 % down payment with credit score mid 600’s. Saw 5% down from First Savings Bank Angelo Christian Branch Manager NMLS#15633. Anyone familiar with them?
I have a full time job- salary 200K a year.
Thanks in advance for your help.