buying a triplex in Worcester MA

[Rawderson Amaral]

Hi I am from Malden MA I am a general contractor me and my wife own a 3 family and a single family in Malden and are now looking to buy another 3 family in the city of Worcester MA 1 hour from Boston.

We have being preaproved for a conventional loan 25% Down 4.25 rate

 Is there a better option for loans? 

Also besides 25% down we have to come up with the improvement cash for improvement 

Is there a rehab loan for investment properties?

Thank you. Rawderson Amaral

[Andrew Beaver]

Hey Rawderson Amaral I was hoping someone responded to this post as I'm in the similar situation but looking to go the owner occupy route and it'll be my first property. Good to see that you're a GC so sounds like you already have things down pact as far as repair cost and you'll be able to do things yourself.

Only idea I could suggest (as a newbie) is to take a drive in Worcester and meet all the local banks and figure out what they'll be willing to give you as far as terms.. It's said that the smaller banks will be able to work with you and your needs better. Especially if you have some success already