Multi-family House Hacking Loan Questions
Hi everyone, I am interested in purchasing a multi-family property. This multi-family will also be my primary residence. I have a friend who is also interested in investing with me. I will be the primary resident, while he would be investing a portion of the capital to be a part of the deal. In time, I would transition out of the property, and we would both be owning the property (perhaps in an LLC).
First question, would a lender still provide a primary residence conventional mortgage for someone who is also receiving capital from another investor or creating an LLC?
My envision, would be finding a way to take advantage of the primary residence interest rates, and also combining the ability to partner w/ someone else. Does anyone have any advice on the best way to go through this?
I know every situation is different for how to split up properties, but I was interested if anyone has any advice or past experience w/ this.
Thanks!