Owner occ. Taking advantage
Just wanted to throw out my current strategy. I have been able to buy three forclosed duplex properties. Two from Fannie one from HUD. Paying cash and signing owner occ. adendums. This gets me ahead of all investors as I have/will live in all my properties for the year required. I was able to pay cash for the first then after repairs finance it for 10 percent more than I have in it (all in). I then bought another and did the same, got ten% over as well. Now I just bought the third, doing it all again. My interest rates are 3.75 and 4.49 both 30 year fixed. The latter is a home improvement loan as I could not cash out refi having only owned the property six months. My rents are about 1500 total for each property having 75k, 78k, and 60k (est.on this one) into them.