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Updated over 11 years ago on . Most recent reply

Adam Schellhammer's profile image
Adam Schellhammer's profile image
Adam Schellhammer
  • from Brigantine, New Jersey
  • Member since Jun 26, 2014

User Stats

29
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1
Votes
Adam Schellhammer's profile image
Adam Schellhammer's profile image
Adam Schellhammer
  • from Brigantine, New Jersey
  • Member since Jun 26, 2014
Adam Schellhammer
  • Brigantine, NJ
1
Votes |
29
Posts
Buying & Selling Real Estate

Buy a triplex with a partner

Adam Schellhammer
  • Brigantine, NJ
Posted

Good day BiggerPockets community,

The Background:  I am looking to purchase a triplex and I have found a partner to go in with me.  I do not plan on using it as a primary residence but my partner does.  we are splitting costs and the down payment.

The question: since it will be my partner's primary residence (but not mine), can we still apply for the FHA? If that is possible and my partner wants to leave in two years, will that affect the loan? How does this affect ownership of the property?

Thanks in advance for any insight!

Adam

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