Posted by dewCO on May 17, 2001 at 15:59:50:
Buying with a traditonal lender is NOT creative RE, but to answer your Q, it’s a non owner occupied property. Just ask your local lenders what they require and what your credit needs to be like. However, if you aren’t buying for a year or more, whatever they tell you today will probably have changed by then. Also, corporate rentals could be not so hot by then either.
Financing - Posted by Kevin Bridges
Posted by Kevin Bridges on May 16, 2001 at 17:19:57:
Within two years, I plan on buying my first rental property. Corporate rentals are pretty hot in my area, so I wanted a corporate rental to be my first property. I want to go solo on the deal, and not use another investor’s money or involve a partner. However, I don’t have deep pockets. The market for corporate rentals here demands homes in the 150-200,000 range. What would be my best course of action to obtain financing for a home in that price range? What type of money do I need to put down? Any advice would be appreciated.