Multi-Family Investing Strategy Question
Hi all - new to the forum... I am looking to purchase a four unit multi-family in Atlanta. I will be financing it but I would like to move my mother down to Atlanta as she is getting older and would like to be closer to me. I would like to use an FHA loan and have one of the units be my mother's primary residence while renting out the other four units.
My question is what would be the best way to go about this. My mother owns a home and the properties I own are under a separate LLC. Would making another LLC with my mother in it allow me to get the FHA loan and have her be the primary resident for one of the units? Obviously I'd like to avoid purchasing the property in my name and would prefer to be covered under an LLC.
Any suggestions? Thanks so much!
My question is what would be the best way to go about this. My mother owns a home and the properties I own are under a separate LLC. Would making another LLC with my mother in it allow me to get the FHA loan and have her be the primary resident for one of the units? Obviously I'd like to avoid purchasing the property in my name and would prefer to be covered under an LLC.
Any suggestions? Thanks so much!