Lending for duplex / 4-plex

[Stephanie Simmons]

I want to purchase a duplex or a 4-plex that will run between $135-250k purchase price

I have w-2 income of $10k a month with monthly debt payments of $2400 a month

I have $2m in investment assets (401k/IRA/stocks). I have a credit score of 770.

I have $120k in cash & I will not be living in the property.

I’d like to put down 25-30% and finance the rest. The properties I am looking at run from turn key rentals to super distressed (bad roof/mold).

Is there conventional financing for the purchase? What should I expect as it relates to rates and/or points?

[Michael Magno]

@Stephanie Simmons

In my market of Cleveland, I have a local portfolio lender who offers great rates and terms on non owner occupied investments up to 4 units.