Working with a partner to potentially acquire a $4M 3 unit (one primary body, 2 townhomes) house in Melbourne Beach, Florida. Any advice on options for financing this thing as a house hack; living in one townhome and renting out all else? Neither of us are veterans, and county loan limits prevent us from getting more than about $1M. Any recommendations for financing the rest of something like this?
Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
3y
Seller financing, DSCR...but you couldn't live in it and it would have to cash flow using AirDNA. You'd have to get around $1000 a night for each unit and have good occupancy (I aim for 21 days or more). Private money.
Who is your agent? Ask them for banks that fund the oceanfront properties. I'm guessing which one you are interested in. :D