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Updated over 9 years ago on . Most recent reply

User Stats

30
Posts
16
Votes
Matthew Mason
  • Rental Property Investor
  • Glens Falls, NY
16
Votes |
30
Posts

Best way to purchase 2ed property

Matthew Mason
  • Rental Property Investor
  • Glens Falls, NY
Posted

I recently(2 months ago) closed on my first property. owner occ duplex. I got a great deal on the thing about 20% below market and used a FHA. After closing on the loan and the couple bigger projects I completed I still have a good amount of cash left! What is the best way to purchase a 2 duplex!? I know there is a regulation stating you need 2 years landlord experience to use rental income to offset mortgage debt, while my income is decent I certainly cant qualify for two mortgages. Ive looked into seller financing a bit... any suggestions on options or should I just stack ca$h for the next two years?!?!?

Thanks!!!!

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