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All Forum Posts by: Michelle Phelan

Michelle Phelan has started 6 posts and replied 22 times.

@Vidit S.

Cashflow as my goal is to hold the properties long term. Why SFHs? I too am in NY but a bit north of you.

Post: Financing for one deed many MF properties

Michelle PhelanPosted
  • Investor
  • Troy, NY
  • Posts 29
  • Votes 5

Hello all! I need some help with a few questions as this is potentially my first investment.

Some background:

I am looking at a property on Sunday. It has a duplex fully rented, a cottage rented and a triplex that needs a total rehab. All on one deed.

Is it possible to get a loan for a property that has multiple livable units and one building (triplex) that needs a full rehab? My intent is to slowly rehab the units and rent them out one by one.

If so, what lenders have you used? If not, does anyone have any creative ideas on financing?

Thanks for your help in advance!