looking to buy my first multifamily property with a FHA loan

[Eduardo Justo]

Hi!! My name is Lalo and I'm new here. i live in Astoria NY and I'm looking to buy my first multifamily property with a FHA loan or something that requires a small amount for the down payment. I'd love to get in touch with a mortgage lender to see what do I need to get approved for this kind of loan. Last year I couldn't do it because I was told that since I reported a loss in my business and i was in negative numbers there was no way that i could get a loan like this one.

Any help or guidance would be greatly appreciate it! 

Thanks a lot!  Blessings! 

[Mohammed Rahman]

Hey @Eduardo Justo - you're facing the same problem a lot of my entrepreneur clients face, including myself. 

For some reason, banks hate lending to entrepreneurs... but won't mind lending to a W2 employee that works for the entrepreneur LOL! 

Happy to point you in the right direction, I've worked with different types of lenders and you just have to find someone that understands your scenario. Even if the FHA program doesn't work out, they have other programs/products that'll be right for you and your goals.

Feel free to shoot me a DM and we can chat about it, I'm also a multfamily househacker so I have a good idea of where your head might be at. 

P.S. If you have the time, checkout my content on socials (just Google ClosedByMo) as I make a lot of content for new investors in NYC.