All Forum Posts by: David Wendelken

I have a friend who has an opportunity to buy the duplex she's renting. (Lives in 1/2, purchasing entire duplex.)

Can she expect to get a mortgage for a personal residence (5% down payment) or will she have to come up with 20-25% down?

Anyone know of lenders who will treat it as a personal residence loan?

We started learning about it about 2 1/2 years ago.   We bought our first rental, a 3/1 single family home, 16 months ago.   We did most of the renovation ourselves on weekends and evenings and got it ready to rent in 4 months.    

2nd rental was purchased the next month but took 9 months to get on the market (6 months to renovate interrupted by a family health emergency for 3 months).  (Lesson learned: be prepared for budget busters both in time and money.)

We're about to start renovating our 3rd rental.

Hello,

We are real estate investors who are currently specializing in single family home rental property.