Here is a fun scenario

brokerintheskye · #1 (**permalink**) 09-11-2007, 11:24 AM

4 unit apt building with a 3 bdr SFR on the same lot.
OO
780 FICO
SIVA- W2 stated, has 10K in assets
has landlord experience
Purchase price: 350K
LTV: 90%
Rents are low for the area. Client intends to raise rents once he becomes landlord.
2 units@500/month
1 unit@375
1 unit@380
Property is in ME

Erik · #2 (**permalink**) 09-11-2007, 01:16 PM

I think the tough thing there will be comps. You could try First Franklin but the 5-units total may not work.

Another option could be to subdivide the SFR from the 4-plex and go from there.

S.Saunders · #3 (**permalink**) 09-11-2007, 03:47 PM

could'nt have said it better .... the boss

brokerintheskye · #4 (**permalink**) 09-13-2007, 02:42 PM

It is commercial - so if anyone has any commercial suggestions let me know.