Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
General Landlording & Rental Properties
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 7 years ago,

User Stats

113
Posts
106
Votes
Scott Graham
  • Westford, MA
106
Votes |
113
Posts

Can you pull a renovation mortgage thats NOT owner occupied?

Scott Graham
  • Westford, MA
Posted

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

Loading replies...