Welcome to this week’s Lunch and Learn with Melinda! In today’s episode, we’re delving into the intriguing realm of multifamily properties. Join us as we explore the stark contrasts between expectations and reality when it comes to purchasing and investing in these types of properties.

We’ll tackle the fundamental question: What exactly constitutes a multifamily property for residential purposes? We’ll unravel the distinctions, particularly focusing on multifamily properties that remain eligible for residential financing.

Our discussion centers around two to four unit residential properties. We’ll go on a journey through the nuances of occupancy, differentiating between those who intend to inhabit the property and those eyeing it purely as an investment opportunity.

We’ll also dissect the requirements for individuals planning to reside in duplexes, triplexes, or fourplexes. Understanding the prerequisites is essential. We’ll also look into the significance of verifying the property type and the number of meters, which is a reliable method for discerning the number of units within the property.

Join us for an insightful exploration into the multifaceted world of multifamily properties. Whether you’re a prospective homeowner or an astute investor, this episode promises to offer valuable insights to navigate this dynamic market landscape. Don’t miss out!

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