What's your experience with buying a non-conforming property? We are under contract on a former SFH in Oregon's Yamhill County. The property has been operating as a Duplex for decades, well before the city zoning plan...
So I spoke with a loan officer at a regional bank last week about a conforming mortgage on a two unit. I own the property outright and was looking to get a mortgage on it. She said that they grant the loan to LLCs all...
I am in the inspection period of a non-conforming R1 zoned triplex located in central Tucson. The 3 units were built in the 40s and there is no permits associated with the properties. I am trying to use a FHA loan to ...
Hi All,I've been lurking on this forum and learning for the last few months, what a great resource to start in investing!I have a place that I'm interested in and have a question about non-conforming rooms. The upper ...
Thanks in advance, good folks!There are a few rural communities I’ve been looking at recently which were platted for small resort cabins in the 1920’s to the 1970’s. The plots of land are from 4000-20,000 square feet....
Looking to potentially acquire a new property but it is on public records as a 4 unit building but there are 5 units. I've been told the city has said a sprinkler system needs to be installed to get a variance to add ...
Hi BP community!What are the main differences between a Non-Conforming Loan and Portfolio Loan?As it turns out, when an investor has more than 10 properties, they no longer qualify for Fannie Mae mortgage loans (conve...
Hi my name is Joe and I'm new to biggerpockets. I'm buying my first house which is a 2 family house and I'm very excited, but I do have a concern. I just got my appraisal back and I noticed that in the section where ...
I frequently see properties with non-conforming aka not permitted additions. Specifically, I'm looking at a multifamily property which had a garage, now converted to a studio. It has all the necessaries - kitchen, b...
I currently have a rental that is 4 bed/ 3.5 bath legally, but we have converted the attic to be a non-conforming bedroom. There is a stairwell up to the attic that leads to a landing that has two doors, one door is a...