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Updated almost 6 years ago on . Most recent reply

Chad Hoober's profile image
Chad Hoober's profile image
Chad Hoober
  • from Colorado Springs, CO
  • Member since Jul 25, 2019
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Chad Hoober's profile image
Chad Hoober's profile image
Chad Hoober
  • from Colorado Springs, CO
  • Member since Jul 25, 2019
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Chad Hoober
  • Colorado Springs, CO
6
Votes |
17
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General Landlording & Rental Properties

Rental property question

Chad Hoober
  • Colorado Springs, CO
Posted

I own a house now where I live and I am interested in a triplex for sale that has renters in one unit, which would cover my mortgage and some. Is it possible to buy the home and make one of the units my primary residence even if I don’t live in it so I don’t have to put 20% down and then rent the other two out for now?

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Michael Craig's profile image
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Michael Craig
  • Rental Property Investor
  • from Saratoga Springs, NY
  • Member since Apr 29, 2017
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Michael Craig's profile image
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Michael Craig
  • Rental Property Investor
  • from Saratoga Springs, NY
  • Member since Apr 29, 2017
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Michael Craig
  • Rental Property Investor
  • Saratoga Springs, NY
200
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238
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Michael Craig
  • Rental Property Investor
  • Saratoga Springs, NY
Replied

@Chad Hoober

No, it is not okay or legal to commit mortgage fraud.

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