|
Hey guys/gals,
I have a buddy at work that I was talking to that was interested in buying a duplex (single guy, lives in the inner city) and renting out the other half. He would of course have to qualify for the amount to pay for himself, but I was wondering if they would even do this loan being a first time homebuyer in a rental situation. Any thoughts? Would he need to have the 20-25% down or would FHA be possible?
I told him I wouldnt do it if I were him due to the headaches of maintenance/renting/code upkeep, etc..
Just throwing this out there for him, thanks in advance for the replies.
|
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
