Well I wanted to buy a home and that was the only thing I found within my price range How did you find this deal and how did you negotiate it?

Our rates are in the 7% range for 20% down though.

Zillow’s June Housing Market Report also pointed out that nearly 25% of listings had a price cut, with most markets in the South now “buyer-friendly”.TP: It’s certainly true that the nationwide inventory of homes for sale is up significantly year-over-year.

With lack of inventory it’s those who get their first have best chance of winning - so trying to get out ahead is something to consider

If you have no lates in the last 12 months and re-established credit meaning you have atleast 3 tradelines you have made ontime payments on for the last 12-24 months you may be eligible for VA financing with 580 min or lower scores depending on the scenario.Most of the time these type of files with be a total cluster and require 30-40 conditions ranging from letters of explanation, additional documentation, and or other to close.

This is about to bite us though as commercial loans only lock for 5 years - so our 4% commercial loan will reset in the next year and probably increase to the 6% range if we don’t pay it off before then.

But, if you want to get an idea, you should find similar 5-unit sales and derive a cap rate for the market, estimate your projected NOI, and derive your estimated value range.

btw, we;ve bought and sold over 1,000 properties for our own inventory and that was the only time we ever collected on a title insurance claim.David Krulac, Bigger Pockets Podcast #82

Units have recently been selling in $900-$950k range. 

Wells Fargo is in the 50k range & I have seen MB Financial loan on $30k properties for our clients before.