Philadelphia Lending Recommendation

[Garrett Culpepper]

Hello all, looking for some advice on creative financing and lending. We currently have a primary residence here in Philadelphia. We just came across an amazing investment opportunity in the city. The home is 3500sqft and is already a duplex that is in great condition, just needs a cosmetic rehab, currently livable in both units. This is such a great location, we would ultimately want this to be our primary residence. What would people recommend for this situation? Is there a quick way to get into the new home in order to "house hack" the property? Is it best to use hard and private money to acquire the property and then refinance out of it? what types of loans can we use for this situation? How would you guys handle this? Any and all suggestions/recommendations are welcome.

[Kevin M.]

Yes your best bet is going to be an FHA loan to get into the new property. You probably won't find a better financing option with all the FHA perks. Low down payment you can use your cash on the rehab