Investor · Bath, NY · Member since 2015 · 149 posts · 44 votes
I found a home for 170k that is a triplex. It also has a single family home on the property so technically there are four units. However, does it make a difference if the single family is not attached to the triplex? I am trying to figure out if conventional or FHA would work for that property or if a commercial loan would be needed? I plan to call a lender and ask Monday but figured I would reach out here just to see if anyone knows.
Rental Property Investor · Smyrna, GA · Member since 2018 · 974 posts · 645 votes
6y
It should, given the parcel contains 4 units. BUT - where you may run into an issue is with the appraisal. They may find it difficult to find comparables for a triplex + a SFH. Your lender may be able to guide you here, but reach out to a few and see what opinions you get. I'd also reach out to an appraiser and get their opinion on how they would go about valuing it.