All Forum Posts by: Jeremy Billauer

Just to clarify this is a triplex and the owner is not living in the property currently

Alright, well I'm going to try and get some more information and see what the real story is.

@Wayne Brooks 

Thanks for your reply.

Do you have any advice in this situation? As far as working with the agent to see if I can get in the property and see if it's even worth putting in an offer. She seemed very aloof, but wouldn't it behoove her/her client to get the property sold while it's in the short sale stage rather than risk not getting the loan mod?

Thanks for the advice @Bill Wallace . I really appreciate it. I may have a couple more questions down the line. 

@Bill Wallace 

Say I'm able to do it the second way. The bank approves the offer, I get the inspection but it comes back with more things than I'm willing to deal with. I can still back out, correct?

@Bill Wallace Thanks for the reply.

Do you think putting in an offer subject to an interior inspection would be a good idea to get the ball rolling?

@Shaun Weekes 

Cool, I'll will definitely reach out to him about that. Yes, the additional rental income. He had mentioned counting 75% of current leases towards income so I do know about that. I will definitely check out your blog!

@Shaun Weekes Thanks for reaching out. I've been talking to a good buddy of mine who works as a mortgage officer and we were going through some numbers over the last couple weeks. A lot of what we were looking at is owner occupied multi-family buildings. That being said we were never able to get down to a concrete number because a lot of it had to do with the additional income coming in. Not sure if that's the case. Is that true or should I be chatting with some other people to see if they can get me to an actual pre-approved amount?

@Nathan Buss Thanks for the update. This could be huge for me as I'm looking to do an owner occupied FHA. Where do you normally find your info on this type of thing?

@Megan Yeardley Welcome to BP. There's so many great resources here for both studying the theory and getting out there and taking action. Good luck!