I found the perfect multi unit to occupy, but.....

[Erika Carter]

Hello everyone!

I'm a realtor that just found an awesome 3 unit Fannie Mae owned building on the south side of Chicago that I want to occupy!  My current obstacles are:

-it needs minor rehab, less than $20k for the entire building

-I do not have enough for the down payment

Any ideas on how to I can achieve this purchase via hard money lenders, JV partners, etc...? Thank you all in advance!

[Bryan O.]

If you want to occupy then look into the owner-occupancy loans. FHA requires 3.5% down. Some other banks will allow 5%. If someone loves you, you can usually have funds "gifted" to you that can be used for the down payment. It sounds like you're pressing forward, but need to focus on building up your funds.