SteveKnowsLoans Provides Unique Alternatives for 5-8 Unit Investment Properties
You’ve been jealously watching others find success in the real estate investing market and wondering how you might get in on the action. It’s time, so join the action! We at SteveKnowsLoans know how scary it can be to invest in real estate for the first time. That’s why we partner with credit companies that have products tailored to 5-8 Unit Investment Properties.
Is It Wise to Invest in a Building With Multiple Units?
Investing in a building with multiple units usually results in a steady stream of income and steady growth in property value. They are time-consuming, can be expensive up front, and may necessitate hiring a third party to handle property management duties. Do the benefits justify the costs? If you’re on the fence about investing in multiple units, consider these three possibilities:
- If most of your real estate holdings are single-family homes, diversifying into multi-family units could boost your return on investment.
- You wish to increase your financial resources: More rental units mean more money in your pocket. Additionally, if you keep up with the upkeep of your property, its value should rise over time, providing you with a nice profit when you decide to sell.
- You’re looking to reduce your monthly expenses by: Why not live in one of the apartments you purchase as an investment? If you reside on the premises, you can keep managing the property and collecting rent from the other units while still enjoying a consistent income.
What SteveKnowsLoans Offers Real Estate Investors
We may assist you in your search for a multi-family building with five or more apartments if you so choose. We have created a new type of financing package that specifically caters to the requirements of real estate investors. The specifics are as follows:
- You can get a loan for up to $3.5 million.
- We look at applications with LTVs up to 75%.
- A credit score of 660 or lower is OK.
- Borrowers who have credit scores that are acceptable to all three credit bureaus are not required to have tradelines.
- All assets must be verified within 30 days.
- Events like bankruptcy, foreclosure, short sale, or deed-in-lieu of foreclosure can be “seasoned” for 24 months under this method.
- When borrowers choose the interest-only repayment plan, they are evaluated based on their ITIA payment.
- To qualify, you need to have enough money saved up to last for at least six months.
- You can get up to a million dollars in cold hard cash.
- Gift money might be used to cover the borrower’s down payment.
It’s time to learn how investing in several units can boost your income and help you retire comfortably. Get in touch with us immediately if you want to start or advance your career as a real estate investor.
Get in touch with one of our lending experts right away if you have any questions!
Call Steven Jackson at 813-616-9411 now!
