All Forum Posts by: Chuck Redman

LOL Bill Gulley

Absolutely count me in!!

BP ROCKS!!!

Thank you for the info. I am looking into this as an option for my son to get into REI and own a property that will offset his expenses.

Steve Wilcox Thank you so much for the info. It looks like a viable option for my son. 1 year and 1 day is not a long time for a first time home buyer anyway and this would give him income from the other units to offset his costs!

I can see where this could be a long drawn out process from what you are saying. I have been reading up on this as a possibility for one of my sons that is interested in REI as a way that he can finance his property and end up with the other 1-3 units providing income.

My other concern on this is that I understand these loans are for "owner-occupied" only? If that is the case what happens when you decide to move out of the 1 unit you have been living in and the property becomes 100% investment property? Do you have to refi?

Thank you Steve Wilcox for your input!

I have been reading up on these loans after I read a blog here on BP about purchasing a MF property and living in one unit and leasing the others.

Does anyone have any experience with these loans?

Shake my head

Rob K I like your system Very straight forward. I can only imagine the look on my wife's face the first time I handed her an envelope with money and told her that was it.. don't spend it all in one place.

Rob K Interesting idea! I can see where this could help.