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Updated about 8 years ago on . Most recent reply

User Stats

28
Posts
6
Votes
Steve Salvini
  • Pittsburgh, PA
6
Votes |
28
Posts

Need to buy another building... help!

Steve Salvini
  • Pittsburgh, PA
Posted

Details:

Relatively new investor trying to figure out how to purchase another building. I own a two-unit that I currently live in one and rent the other. I purchased this building last year in Dormont and love the location and although it wasn't a killer deal, was a perfect place for me at the time and will cash flow of both units were rented. 

Financing:

Purchased with an FHA to allow more cash on hand to buy something else this year, but that has not worked the way I would have liked. I have good credit, some equity in my current place, but not enough cash to get out of an FHA into a conventional investment loan.

Problem:

How can I buy something else, ideally another multi-unit 

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