Buying a house for a parent

Financing, Hard Money Lenders, Private Money
1

Hi there. If one is buying a house for a parent to live in, would this house still be considered an investement property in the eyes of the financer?
Thanks in advance
JayDee

2

Yes. It is classified as an investment property unless you spend at least 6 months a year in it.

This is the difference between a second home classification and investment property.

3

Shucks. Ok thanks!

4

Next Question: :slight_smile: If one were to buy an office for work, how do lenders look at that? Would they be offering commercial loans? Can you get an Owner Occupied deal if you are buying yourself a place to work everyday?
JayDee

5

I am curious myself…I have seen office condo projects out here in Vegas that claim you can own an Offic Condo for less than rent! I have no idea how the financing works on that though.