Then I thought I could buy the house from my dad for $300,000, which would include the money needed for the rehab instead of doing 2 separate loans.

IMOHML also better be careful about calling a residential loan a commercial loan as well.

This is because you can't get an FHA loan for an LLC and thus have to put down around 20% for the loan.

We finally have enough 2024 data from MLS for a solid read where this year is going: the median home price in the greater Milwaukee area is now $320,000, that's up 11.8% YoY.And we see a similar trend with rents: I don't see that direction change anytime soon: we would need to lose a bunch of people or ad several thousand units.

It was a little frustrating because I'd been in communication with these lenders from very early on, sharing all details with them from the start and repeatedly remarking on the Trust ownership, and stayed in contact with them throughout the discovery process as I firmed up everything on my end, and now I have the plans, the contractors, the OOP funds, and basically everything else ready to get started within 1-4 months, but I'm back at square one re: loan.

Finally, they are so flexible that you can designate who gets what percentage, etc.

Could you come up with 10% down and buy in a market that is over 50 miles from you and use the vacation home loan?

In the state/city these said parks are located two banks will finance with about a 20% down/balloon pymt type loan/15-yr amortization.

Especially the ones that had adjustable portfolio loans.

Loans from a bank are about 8.2% for single family homes.