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Updated over 7 years ago on . Most recent reply
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Can you pull a renovation mortgage thats NOT owner occupied?
I am looking to acquire a triplex (rental property) that needs a significant amount of work. I will need to pull a loan to mortgage the property and to cover the cost of the renovation work. I am finding that the banks will only lend to me if the property is owner occupied. The home doesn't have a finished roof, bathroom or kitchen AKA it is not in any sort of livable condition.
Any suggestions on how I can finance a deal that is under these kinds of restrictions??
Best,
Scott