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6 Unit Apartment
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On the phone on with Felix Nicolas III now. Will call you shortly Cameron LeClair the man 👨
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The borrower is in Alaska. Does the borrower need apartment building ownership and property management experience? He has experience as a property contractor and owns couple of investment properties.
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Hello Lisa,
The borrower does not specifically need apartment building ownership experience, but they do need 12 months of investor experience within the past 3 years,
but they do need management experience. 3rd party is okay.
investor experience is…. 12 months of owning & managing an investment property within the past 3 years.
Please let me know if you have any questions.
Thanks!
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Cameron. Can lisa sell investment property non-qm loans for you guys as an independent contractor? Lisa is a realtor owner and Developer and knows a lot of people.
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Hey Gus & Lisa,
Yes Lisa can be approved to sell DSCR products & originate in 40 states nationwide.
All we need is Lisa to have some type of company formed, LLC, Corp, Etc.
Does not need to have NMLS #
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Did you talk to Felix Nicolas III?
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Hey Gus,
I did, I sent him pricing & spoke to him about the file. He wants to make sure it ratios
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The borrower has investing single family homes and owns two single family homes
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that should be just fine
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Cameron do you have a great credit repair company you can endorse and is great
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I dont…. typically that is something my business partners use but I do not personally have a need for Myself.
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THANKS Cameron. Appreciate you.
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gustan, is it ever possible to get a no money down for an apartment building over four units, such as through an owner, investor?
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Hello James,
back in 2021-2022 we had theNADA 100% FHA program allowing 1-4 units.
Unfortunately with the market we brought that down to 2 units-
Minimum fico is 680+
if you have a questions please let me know
thanks
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You can buy a four unit multifamily home with 100% financing with a VA LOAN. No closing costs. Get a 4% seller concessions for closing costs.