Creative Funding for Triplex

1 Reply

I found a nice triplex I want to look at that looks promising. I am planning to use my va loan and live in one unit and rent the other two. However when my agent contacted the owner for a viewing the owner says that he has two of the listed triplex for sale and that he wants to sell them together. 150k each and they are probably worth 175k each.

So if this property works out it could be a great deal for me so my mind starts working on how i could buy them both. Im thinking If i buy one with my VA loan and use the equity to put a down payment on the other i can buy both without getting a commercial loan.

My question is do you think the owner would be up for this? Is there any reason the owner would be against it?

Any better ideas?

Thanks for the help guys

I would first approach them for seller financing. You could have your agent start the conversation stating that you want both , but are figuring out how. See if the seller will bring up options once that conversation is started. As far as pulling equity it doesn't seem like you would have enough to do a full down payment on the 2nd since you would have to purchase it with an investment loan at 20+%. The other option if you really want at least 1 of them is to find someone else who is trying to hack in your area and get them to offer on the other one.