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Updated about 10 years ago,
4 Properties in 1 loan-- Is it possible?
Hello BP nation,
I am analyzing multifamily properties for my upcoming move back to Florida. I have found a solid property in a peculiar situation that I would like to get some feedback on.
There are 4 town homes up for short sale on the MLS. They are each individually listed with the same owner. $59K each and currently rented at $750, so they will cash flow nicely upon initial valuation. The building is a MF but each unit is broken out into individual parcels.
Can I get a conventional loan to purchase all four parcels at once, or will I have to get individual loans on each unit?
If can make it work, the game plan is to live in one of the units and rent out the other three.
Any feedback or words of wisdom are greatly appreciated!
Thanks