The rent of the 2nd unit only covers the conventional loan.

If it is worth $250k and you take a conventional mortgage you would be mortgaging 75-80% of that which is $187-200k. 

Lack of capital - Successful newbies: use FHA or Low-down payment conventional financing; Find a co-signer; Use 'gifted' funds for down payment; Save capital while working on their market knowledge and resources.Lack of market knowledge - Successful newbies: Use resources like BP and local meet-ups to stay current with market activity and trends.Lack of resources - Successful newbies: Partner with a local team of professionals - Wholesalers, investors, Realtors, lenders, attorneys, etc.

Today I checked rates on their site, and there were none even with great credit and a 25% downpayment.According to my loan officer, Redfins investors are not purchasing investment or second home mortgages right now, and expect them to come back in about a month.FYI that it looks like lending for conventional investment property mortgages is drying up.

Private capital that does loans based on the asset is great, but yeah, the cost of the money is higher than conventional banks. 

I don't have the means to fund an all cash deal, so I got pre-approved for a conventional loan with 10% down at a fixed interest rate of 3.75%.

Does anyone know a conventional investment lender who will not pull the rug under you at closing, but at the same time offers the lowerst rate? 

Conventional 30.

Conventional 30.

@Michael Ohara so do we get a HML for cost of property AND refinance or conventional for cost of home and HML for rehab??