All Forum Posts by: Cody Parker

At the risk of sounding like the rookie that I am...Is it possible to have a partner and purchase the property thru an LLC and still use an FHA loan as long as one of you lives in it? Additionally what if the property is originally purchased as an FHA and you move out a year later? Myself and a friend are looking at a 4 plex and he wants to move in whereas my situation would stay the same (neither of us own our residence). I'm new to this and am also trying to find ways around the 25% rule for investment property...

Some of the properties I've looked at have existing cash flow and using the BP tools I can generate those documents to take to a lender.  The lending is just tighter than I expected it to be walking into this.  Hard to believe 20% down is not even enough for a cash flowing investment property.  Guess that's just the rules?

As of right now that option is up in the air.  I've considered a new construction and am also exploring properties that are already operational.  This will most definitely be a buy and hold type investment.

I'm just getting started and am already running into lending concerns.  29 yrs old, no debt, excellent credit, excellent income, good liquidity, and looking at properties.  The only lenders that will talk to me so far want minimum of 25%-35% down (25% on existing structure and 35% on new construction) They are also skeptical about predicting income from the properties even though the rental market in my area is tight and occupancies are not an issue right now.  Are there any other ways to invest safely and not have to use so much of my capital?