All Forum Posts by: Nneka I.

@Timothy who was the lender for the rest?

I was able to get an email response. Here is there buy and hold requirements

Our buy and hold is typically a 30 year term, fixed interest rate starting at 6%.
We require the purchase price value to be at least $200,000 for SFRs, or at least $100,000 per unit on a multifamily property.Population requirement: 50,000 people in the county (nothing rural)Property itself must be stabilized - meaning no major rehab required, and able to get market rental ratesCredit score: 650 or moreDown payment: typically 20% required, dependant upon the state and experience level

Where is the market place? 

Would like to know what they are like as a company as well

No, Not yet. Still active and looking 

I am actively trying to get FHA financing on a fourplex. I have excellent credit and W2 and had 11 banks and brokers tell me I HAD to put 20-25% on a fourplex. when I asked why and they said that's what they require or some variation of the following. Yes, I'm still looking.

@Edgardo Lecona

I found this too. 10 banks told me I had to but 25% down on a fourplex even if I lived there. When I asked why, I never got a direct answer. Many just said that’s what we require. Worse, I was offered 3% down on a single family which I’m not interested in.

What an amazing achievement. Thanks for sharing.

I have literally never had anyone call me a slumlord. Plus, I think I over do it with what we offer above safe rentals to tenants. treats on valentine and other holidays. Gift cards during xmas and a welcome bag. 

As a doctor currently working in crap-show that is health care. I agree, truer words have never been spoken. Thanks for sharing your goal its aspiring. I will get there some day.