You woul get signiture loans from banks for half the rate from that credit card.

Does anyone know if you can refinance a NACA loan after a year without having to pay the 25k lien put on the property and also doe that release you from the occupancy requirement?

We are also getting a forgiving loan of 30k for the duration of 10 years from the county for 1 unit if we rent out the 1-bed basement unit to a household with income less than 100k and at the rate defined by the city )(~1183+ utilities) for a 1 bed unit.

The original plan was to live in one unit (as requird by the loan terms) for one year and rent out the other, then move & rent both units after the 1 year requirement (currently living with relatives).

Thank you in advance

You could also move into the Tampa property later on - although I would say this is a rare practice because people usually like to take advantage of the primary home loans if they are going to live in it (people usually live in, and then rent).

The market here is obviously tough (and we'd like to invest here or nearby for several reasons), but we have heard about second home loans that have more favorable down payment and interest options which could increase our buying power and allow us to cast a wider net during our property search.Understably this type of product would have to pass the sniff test.

@Diane Dutt very few lenders will call a loan that is current and paid on time.

The two most obvious options at hand are : A/ Accumulating capital through my job before investing in real estate B/ Asking for a bank loan that would allow me to invest sooner, saving time, after doing market research Which strategy is better, in your regards ?

The management company just happened to be hooked into the deal with Growth Equity group and they also provided the interest only hard money loan for the balance of the purchase price.