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Updated over 1 year ago on . Most recent reply
![Derek Simkins's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1087971/1667062601-avatar-hiddenroses19.jpg?twic=v1/output=image/crop=818x818@0x0/cover=128x128&v=2)
HELP! Owner-Occupied Fix & Flip
I am badly wanting to get out of Tampa, FL and move to the greater Asheville area to be closer to family. I found an incredible deal with a high ROI but not a single lender wants to lend on it because it is going to be owner-occupied after the flip. I have a few properties in Tampa, FL with a considerable amount of equity and have offered those as collateral but still no luck. Local banks seem confused by my plan. Is there any other way to get cash/hard money for this deal without selling my portfolio?
Thanks in advance!
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![Scott Trench's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/182136/1728924093-avatar-scotttrench.jpg?twic=v1/output=image/crop=750x750@0x0/cover=128x128&v=2)
Perhaps a dumb question - but is the property habitable right now? If so, consider using a traditional/conventional mortgage to simply buy the property, like millions of homebuyers do every year.
If it is NOT habitable, consider using an FHA/203(k) loan. This might even provide advantages and protections for your rehab process, and a success story using this product will help many newer investors who have a hard time getting a hard money loan on a first flip.
As you intend to owner occupy the property, you might be able to get better and easier financing on it than you might think if you are coming from true fix and flip projects and BRRRR projects.