I’ve done some research and have found that some banks will allow the seller finance portion from the seller to go towards the down payment of the loan, is that true?

Duplexes are very common here and are much easier to find than a Quad as well.

By the way - for the same reason the 1st position lien holder will be uneasy with 100% CLTV, as a buyer I would be uneasy with it as well.

I think it's great...it's an opportune time to let them know what they are doing well and that you appreciate it - as well as to discuss areas of concern.

Quote from @Jemini Leckie: Hello, I am trying to understand the Orem, city code to determine if I am allowed to rent my basement ADU that I currently live in two a couple cousins and their friend.

I love that you have specific goals for 2025 - I believe if we think it, write it, say it, and share it our goals are 10x more likely to come to fruition.Are you able to do option 2 and just house hack a 2-4 unit building and use a renovation loan which allows you to put down 3.5-5%I highly suggest getting to some local chicago meetup groups (we have an in person one on the 17th)...here is BPs list: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

These are also the banks that are more commonly relationship lenders and will allow your originations to out pace your balance sheet if you are consistently able to execute on the projects they fund for you.

Operating in the Luxury SpaceWe focus on properties in the $1.4 million to $1.9 million purchase price range, which allows us to sell finished projects in the $2.5 million to $3 million range.

Do you mind sharing the name of that type of loan/lender that allows you to have the seller carry on a second position?

💰Well said!