Getting around Non- owner occupied HML

[Dominique Johnson]

Hey BP. I'm analyzing a great deal in a transitioning community within Atlanta. I seem to be getting the same flags. HMLs will not lend to owner occupants. 

This would be my first deal. I plan to purchase, rehab & occupy for 6-12 months. 

I have the opportunity to use a VA loan as well as FHA as a first time buyer. But most of the houses I'm interested in wouldn't meet the criteria.

My long term goal is to build a buy and hold portfolio. Buying a property I can occupy (SFH/Duplex) will be a step in that direction utilizing the BRRR strategy (I move periodically for work).

Purchase: $72k

Repair: $7-10

ARV:$120**

I'll continue to reach out to local lenders that may work with me. I'm open to any advice.