Multi-Unit Friendly Lenders

[Victor George]

I am new to this industry and I was close bidding on a duplex in Durham, but I decided to devote more time to finding additional financing options. I've been pre-approved for conventional and FHA. I have the cash down to purchase a property for 300K on 25%, but I would prefer devoting my cash savings on other investments. I've spoken with M & F Bank for a SBA that I've found reasonable 85% and 5.5%. Are there any financing options that are multi-unit friendly and have a higher LTV of 75%? And interest rates between 5-6%?

[Jason E. Smith]

Hey Victor, I sold a duplex this year in Charlotte which resulted in a bidding war.  I'm sure the "winner" of that war will find out in the coming years they really didn't win.  I would recommend finding a mentor first.  An investor with cash and no experience is like a kid running around the house with a loaded gun!