Landing a Good Deal Through a Conventional Loan
Am I doomed in finding a good deal if I'm going through a big bank and being financed through Fannie/Freddie/FHA? From the little I've learned so far, it sounds like, generally, getting a good deal requires cash, which either requires the investor themselves to have cash or for the investor to have a private/hard money lender. Furthermore, the investor needs to be offering up a super speedy closing process. (All about beating competition)
I'm planning to invest for the first time in a duplex, triplex or four-plex that I'll house hack for at least two years. A key benefit to a Fannie/Freddie/FHA loan program is the low money down and much lower interest rate. I'm, no doubt, going with one of those programs for financing. But is all hope lost in finding an off-the-market deal since I won't have cash and time on my side? (I've heard the big banks and these loan programs can take quite some time to close with compared to private lenders) Am I limited to on-the-market options that most often involve worse deals with this kind of financing?