Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Creative Real Estate Financing
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 8 years ago on . Most recent reply

User Stats

53
Posts
3
Votes
Jack Taylor
  • Miami, FL
3
Votes |
53
Posts

Own 1 condo, want to purchase 2 unit bldg w/o moving in, low cash

Jack Taylor
  • Miami, FL
Posted

Hi,

I currently own my own condo. I don't have a lot of cash on hand, and am looking to buy a 2-unit rental property (already rehabbed and ready to rent in both units), but I'm not going to have enough money if I combine a cash-out refi on my condo with my current savings account. I'm trying to avoid doing an FHA loan because I'd rather not have to move into the building if I don't have to--I'd rather just rent those units and stay where I am. Any ideas on how to get the cash to not have to move in under the FHA mortgage requirements?

Loading replies...