Updated over 5 years ago on . Most recent reply
Conventional loan for a fourplex property
My bank will qualify me for mortgage for a 4-plex if I live in one of the units at least for a full year. A property I am considering right now is fully occupied. Can I still ask for the mortgage and tell them as soon as first unit becomes available I will move in.
Or is there any other solution to this situation ?
Most Popular Reply
Cash for keys
Give the tenant a cash bonus for leaving immediately then take that apartment.
You could also work some kind of delayed settlement until the tenant moves out. You could even do a master lease option with settlement when you are able to move in. - Ned