Financing
Well I finally did it! Bought my first property and a Fannie Mae at that for 25,000 under lowest appraisal. I already have my next project scoped out and it is a six unit apartment with awesome positive cash flow. Is there such thing as lenders that do "portfolio" loans and treat these as residential type properties? My bank told me there was and I would just have to search. (He could only do 25%) down. Anybody ever heard of this type of loan? Any other great ideas for finaning this property type without breaking my piggy bank? Is there anyone who has heard of refinancing an apartment unit without seasoning to get my down payment back out? Thanks for all the help!!
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