All Forum Posts by: Mike Davis

 Not sure, I used my home address for the EIN.

@Brian Price based on the information you have provided, you may qualify for a No Doc loan. If you would like more details, feel free to reach out.

@Eric Newcomb if I were in your position, I would take a HELOC on the current home ( then rent) for the down payment of my next investment fix & flip, sell it and move to the next one. Eventually, payoff the HELOC and use the money you're making on the flips.

You are in a great position with many options.

@Elizabeth Rose you may be able to get an FHA with 3.5% on your next property, given you will occupy as a primary residence. You may need to get you current property under a rental agreement to offset a percentage of the mortgage payment if you are close to maxing out your Debt to Income Ratio.

@Julia Taylor in order to get the best advice on how to move forward, can you advise credit scores, reserves, buy and hold, or fix and flip strategy, can you prove income or do you need a low/no doc loan?

Providing this information, someone will definitely be able to point you in the right direction.

@Kelvin Williams you may want to talk with an attorney. I would suggest you need to get the 4plex under the LLC to protect your personal assets, we are in a very litigious society and it is good business. If you do move the 4plex into the LLC, make sure it does not affect your title.

@So Da what state do you live in?

@Brian Price What state are you in? There are HMLs that will do NO DOC loans.

@Erika Elko do you have any reserves for a down payment?

@John W. my advice with doing this with a friend is document how and what will be taken care of, the responsibilities, any weird scenarios that may come up. Don't assume anything. Good Luck with your venture!