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Updated over 7 years ago,
unique situation for selling a multifamily
looking to sell my owner occupied 2 family in the spring with current tenant being here 3 years (could not ask for a better tenant, she pays early every month without fail). I want to buy a more expensive home with a lot of acreage in a different town. I am a day trader and unable to get a loan/mortgage from a bank because my career is viewed as risky and unconventional, so I want to sell my 2 family and use the proceeds(200k) to add to my trading capital to pay cash for the house I want to buy......so in the spring I want to sell but have my tenant and I stay in the house (I will be renting from whoever buys) for a year as tenants at will and then move. My tenant loves it here and she doesn't want to move. I'm thinking from a buyers standpoint it would be great to have existing tenants (I have owned the home for 16 years and done extensive work, it is a desirable house in a sellers market) that have a solid history of payments and would be cash positive from day one. My thoughts are either an investor needing 20% down or a cash offer, owner occupied would not be ideal for me. Any thoughts? am I crazy to think this? Im in Nashua,NH