All Forum Posts by: Blaine Bacon

@Wayne Brooks So it wouldn't work for us, since it would be a rental?

Hello everyone,

My wife and I bought our first house last year. We used an FHA loan to get it, but since I had better credit than my wife, and just my salary alone was enough to get us into the house we wanted, we didn't add her to the loan so it's just in my name. Now would it be possible to get an FHA loan or 203k loan and just put it in her name? I think I've read that you either have to live in the property or just own it for 5 years correct?

We are trying to purchase our first rental property and I thought this way might work since we don't have enough to put 20% down just yet.

I'm a little late to this conversation, and It might be to late for the input, but my wife rented one side of a duplex in the plaza/gatewood area when we first meet and she paid 1100 a month for a two bed 1 bath. That was about 3 years ago too.

Also, I'm also new to BP and real estate investing. I hope to buy my first rental property within the next year. I'm hoping to stick around here and learn a lot from reading everyone's post.