Multifamily unit in Georgia

[Sundiata Jackson]

Hello all,

I have been in touch with a owner of a tripleplex in Metro Atlanta. I want to invest and become a tenant/landlord but do not have the funds to make it happen. I spoke to the owner about seller financing but is not interested. Is there any other options I have? Hoping to work something out with him.

[Aaron Montague]

@Sundiata Jackson

Make sure the deal is worth doing.

You mentioned becoming a tenant/landlord, which I assume means you intend to occupy it as an owner occupied house.

There are several inexpensive ways in multis with an owner occupied based loan.

0% Down:
NACA (https://www.naca.com)
VA Loan (http://benefits.va.gov/HOMELOANS/index.asp)
Rural Development Loans (Renovations MAY be included)
(http://www.rurdev.usda.gov/HSF-About_Guaranteed_Loans.html)

3.5% Down
FHA (http://portal.hud.gov/hudportal/HUD/topics/buying_a_home)

3.5% AND Renovations
FHA 203k loan (http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/203k)