All Forum Posts by: Anthony Cosgrove

thanks @Account Closed! I will keep that in mind as things get closer.

@Jeff B. Thanks! I have a contact at a small community bank... I figured I would need them more once I need to get past 4 properties or a commercial deal, but it wouldn't hurt to check what their terms would be.

thanks @Shawn Ackerman  the lender is a direct lender. 

thanks!!

Thanks for the input!

I am looking at purchasing a 4plex. I currently own one other SFH besides our personal residence. A direct lender told me that since it was a 4plex I would need to put down 25% instead of 20%. I was under the assumption that 1-4 were treated the same. Am I wrong?

@David Chan thank you so much for your time and advice!  I will keep you guys updated as things progress.  This week I will be running numbers by some experts and shopping for a mortgage.  I plan to meet the owner next week to get more details.

Thanks @William F.

So lets just say that it is worth a little over 150k retail. How would you present an offer that would not offend a "pride of ownership" owner that they would take seriously? Thanks in advance BP!

Thanks @David Chan! I would say the neighborhood is decent.  Well kept sfhs all around. I would call it a solid B.  I would agree about the 2 middle units.  I would guess they are in good condition but would need updating.  The other 4plex that sold was very similar except that it was 2 above 2 below configuration.