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Updated 10 months ago on . Most recent reply
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Financing Advice for Potential Triplex Deal
I am looking at a property here in FL that is listed as a single family for 470k but is functionally a triplex (3/2 house with a guest house in back that has 2 units, one is a 1/1 and the other is a studio, both units in guesthouse have kitchens). I was considering doing an FHA loan as I could live in it for a year. But I was wondering if it would be better to look into private lenders. I could pull about $4500 in monthly rent. I am also certain I can get this for less than $470k. Would love to connect with someone that could offer some guidance. Also, if you are a lender or know a lender I'd love to chat!
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Quote from @Arman Tannu:
I am looking at a property here in FL that is listed as a single family for 470k but is functionally a triplex (3/2 house with a guest house in back that has 2 units, one is a 1/1 and the other is a studio, both units in guesthouse have kitchens). I was considering doing an FHA loan as I could live in it for a year. But I was wondering if it would be better to look into private lenders. I could pull about $4500 in monthly rent. I am also certain I can get this for less than $470k. Would love to connect with someone that could offer some guidance. Also, if you are a lender or know a lender I'd love to chat! Cell: 9733091249
I think it all depends on what you're looking to do. If you are looking to house hack and go the traditional route, it would most likely give you the lowest down payment option. There are multiple options depending on your end goal, capital position, long term/short term strategy etc..
Hope this helps!