Can you get a conventional loan on a property below $40k?
Hi everyone,
Before I begin my business of acquiring rentals and managing I want to know if banks are willing to finance with a conventional and 20% down a rental under $40k. I understand that cash flow is better with these homes but I am analyzing my options right now. These homes obviously have more deferred maintenance since they are in class c neighborhoods but are they good rentals or do they attract mainly bad tenants. I need to sit down and write out my business plan of what I want to incorporate in my acquisitions.