Updated 4 days ago on . Most recent reply
Lending options please
Hello bigger pockets members. I found a beautiful rural property far below market value but it has a hand dug well. Never seen one of those before but it functions fine and has a good filtration system in the house.The property and the three large building on it are unpermitted builds. The home has minor water damage in a bathroom. It's on 7 acres and has a pond. What kind of loans can I get? I tried talking to conventional fha a private equity. It seems like everyone I've talked to requires either 5 or less Acer's in rural Washington. Or permits on the building. If the lender doesn't care about those two (only found one) then I have to already have an active home loan on a primary residence. Any help or advice would be appreciated I don't expect this place to last the week in my market.
I had planned to buy it to rent out the house almost immediately. And prepare it as an air BNB for long term.