Financing Three 4-Plexes on the same street

2 Replies

Hi,

I am hoping someone can help me with some more information. I have agreed to a purchase price of 660,000 for three separate quadplexes on three separate lots with the owner. My first question is should the official offer be 3 separate contracts in order for me to get financing? 

Second, what is the best route to go for finding financing for this? I have no W2 but I do have enough liquid assets to cover the purchase price. I am in Florida if it matters as well. 

Thanks in advance

If you want to get conventional financing (30 year amoritization) they will need to be three separate purchases. If you are okay with commercial financing (20 or 25 year AM), then one purchase agreement works.

@Mark Larson , you said you don't have W2. But not sure if you have other income proof to qualify for the conventional financing. If not, commercial financing would be good choice for this deal. You can do it in one loan. Do you know the market rent? I imagine if the average rent per unit is greater than $500 and you have 650+ credit score, you should easily qualify.