I am retired N got some funds available. But want to buy a DUPLEX with Rental income. Lender N Bank not financing? My options? Ready to make 30% Down.
Anand, Madan "Andy"
Partner with like minded investors and you put down payment, and they take loan on their name and structure a deal that works for both.
Other options include, occupy a duplex as renter in one unit, and eventually talk to landlord to sell ( possibly with owner financing). An Idea and if it works, its a deal for you.
You need to find a lender who can go stated based on the rental income only and then the property would just need to qualify. There are lenders like this but the rates are not the best. Not necessarily hard money, but you're def not going to get a 4-6% interest rate.
@Naveen Desai also gave some sound advice about either finding a partner or living in one unit and renting other.
Just my .02
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Sent you a message. I am interested in the kind of option Madan is asking for. Please share what you would have for me and also if the option is available for all over the country?
Hopefully Ken was able to help you, but get in touch also. I would be interested to see what you're looking for b/c I also might have options for you.
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