All Forum Posts by: Account Closed

I am purchasing a 4 plex and occupying one unit. I want to get an HUD Title I prop improvement loan (following the guidelines of 12k per unit on a multifamily.

Although I can pay the down payment, I want the property improvement loan to close the same day as the property so that I can pay myself back for the down payment.

Who here has successfully set a property improvement loan to close the same day they purchased a new home?

Find the DEAL.

Then put it under contract.

If the seller isn't motivated they likely won't put it under contract unless u show proof of funds/preapproval letter and deposit.

If the seller is motivated and u find the deal before there is competition, u can put the house under contract with less hassle.

Welcome. The Cali market is unique. What are u planning to do?

I live in California. Where is your rental located? Average days on market is very short where I live, I am surprised you couldnt get it sold