It is extremely hard to get a loan on a 2-4 unit above $1,050,000 (conventional loan limit).

Extremely high rents in the area made this investment a can't miss.

It could also trigger the "due on sale" clause, so look into that. 

It also has a great deal of character - large ceilings, tons of windows and sunlight, extremely spacious layouts, etc. 

We might go as high as 75% but that is usually the max.70% rule explained:70% x ARV (After repair value) - RepairsIt is extremely important to be able to identify the ARV correctly or get close to it because otherwise you will not have a successful project.

The wiser option would be get the property to strictly rent it out completely since I am searching for at least two to three family multifamily.Im not sure if this will work but here is the link to the analysis I did - https://www.biggerpockets.com/...Find a local agent to help guide you and give you the last bit of confidence to pull the trigger.

I then asked myself do I really NEED to pull the trigger right now.

I'm extremely curious, any and all success stories are welcome, would love to generate a healthy discussion around this topic.Thank you!

I’ve been all talk and overthinking for years, keep beating around the bush, and need to pull the trigger on something to buy, learn, grow, and the the ball rolling!

If your loans require an appraisal and take 30-45 days to close, you have more of an extremely high interest rate conventional loan.