First attempt on MTR

[Matthew Powell]

I need some assistance with funding a MTR deal. Had a partner that had to step away until October, but I don't want to miss out on an opportunity.
Thinking about FHA. The seller may be willing to Seller-Fi a small portion.
The property is great and currently has minimal vacancy. Not sure if a local bank may be better than FHA, or are there other avenues that I should explore?

[Lindsey Mannix]

For FHA, you typically have to occupy the home, at least initially. If you don't plan to occupy the home, I would love to a lending broker in the area to find you the best deal to either do an investment loan or DSCR type loan.

[Zachary Deal]

As Lindsey mentioned a DSCR loan could be a great option to fund this property if it is for investment purposes only and you will not be occupying it!

[Nicole Heasley Beitenman]

BP has a lender finder that might help: www.biggerpockets.com/lenders

[Ko Kashiwagi]

How much are you looking to put down? DSCR can typically go as low as 20% down. If you're looking to put even less, you'd have to get creative somehow - house hack, second position seller financing, etc.

[John Mason]

You can also see if you can joint venture in a LLC with a private lender

[Erik Estrada]

Quote from @Matthew Powell:
I need some assistance with funding a MTR deal. Had a partner that had to step away until October, but I don't want to miss out on an opportunity.
Thinking about FHA. The seller may be willing to Seller-Fi a small portion.
The property is great and currently has minimal vacancy. Not sure if a local bank may be better than FHA, or are there other avenues that I should explore?

FHA is for owner occupied properties only. You can look into a DSCR loan, however you will need to make sure the property can qualify with market rents. There is not an MTR product yet out there.