Hello. It’s Erik Martin with The Mortgage Reports website again (www.themortgagereports.com). I’m looking to possibly interview you or another expert you can recommend for the following story:LET YOUR TENANTS PAY YOUR MORTGAGE: WHY IT CAN PAY TO PURCHASE A MULTI-UNIT PROPERTY THAT YOU RENT OUT. This article will explore creative strategies for obtaining mortgage financing for a multi-unit property (duplex, tri-plex, four-plex) where you live in one unit and rent out the others. Below is a list of questions I’m seeking answers to. I can either conduct a phone or email interview (with the latter, please email me back full-sentence written responses that I can use as quotes). My deadline is noon central time, Wednesday, Dec. 14.
QUESTIONS:1. Why is it smart today to consider purchasing a multi-unit property (e.g., duplex, tri-plex, four-plex) in which you live in one unit as a landlord and rent out the other units? What kind of return on investment can owner/occupiers expect?2. What are the lending challenges borrowers face under this scenario? (e.g., stricter loan guidelines for 3-4 units vs 2-units)?3. What are some of the advantages to seeking mortgage financing under this scenario? (e.g., part of the rental income can be used to qualify you for your mortgage; Fannie/Freddie/FHA loan limits are higher, etc.)?4. What should prospective buyers/landlords consider carefully here before pursuing financing and purchasing a multi-unit property/becoming a landlord?5. What are some creative strategies you suggest that may allow a prospective buyer/landlord to purchase a multi-unit property? 6. What current loan programs do you recommend for this type of borrower and why? (provide details on the features/advantages of each program you list)7. Any other thoughts, tips or suggestions on this topic?8. What is your full name, title, company, city/state location, and email address?
Keywords
real estate/mortgage experts
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