Hi I have a friend who is buying his first duplex using a VA loan he’s in the process of evicting a tenant because he needs to move into one of the units but is having problems the tenant is on a month to month lease and he gave her a 30 day notice to leave.

We would get a better conventional loan rate on a new primary (vs investment property) and be able to put less than 20% down (if we wanted to).

To move forward, you might consider refinancing or looking into a home equity loan to buy out your ex’s share—if possible.

You’ll be living in one unit and renting out the others— but with a bigger payday!

Buys credibility for the loan. 

Lenders have to pay their loan officers through a loan officer compensation plan along with the "Branch bucket".Lenders have offices where the manager has an override and then a P&L so they have to charge more either through points or higher rates.

You can finance the purchase of an investment property in an IRA, but you must use a non-recourse loan, which typically requires a 30-40% down payment.

This allowed me to get the first right of refusal on the other property which I'm currently working on an owner finance deal that would be based on a 20 year loan, balloon in 3 years with no interest.

To convert STR to LTR, evaluate rental comps, hire a property management company, explore multifamily properties in strong markets, and use a 5% Fannie Mae loan to buy a multifamily property.Good luck!

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.