There’s a question we’re often asked by our Home Buyer Workshop attendees and first time buyer audience. Can I buy a multi-unit property and live in one while I rent out the other unit(s) for income? The answer is ‘Yes, you can!'”
The FHA has a fabulous 203k rehab and renovation loan program that funds necessary improvements and updates to homes in need of repair. It’s good for up to 4 unit buildings.
The FHA will help you purchase & renovate for just a 4% Down Payment, if you and the property meet certain conditions.
There’s a ton of small multi-family properties (2 to 4 unit) in the DC Metro area that are prime targets for the smart use of these mortgages! RSVP if you’d like to attend – it’s free.
We are real estate agents who teach! UrbanLand Company Home Buyer Workshops have helped DC/MD/VA home buyers purchaseover $33.7 million in local properties using special financing programs.
More info on the program is available here:
http://bit.ly/2eI6EqI. Free multi-family property search is available here. http://bit.ly/2eJjoxx