All Forum Posts by: Kevin Park

Best way to shop for property insurance on a 15-unit multifamily in Bakersfield, CA ? Thanks. 

Four friends and I want to begin our multifamily investing journey together and are interested in purchasing a triplex for our first deal. Our initial thoughts is to create an LLC for the purchase. But in terms of obtaining financing, can our LLC (with all five of us as members of the LLC) obtain residential financing (four units or less) or does the mortgage have to be under an individual or individuals? Researching online didn't yield the answer. Just trying to get a sense for what is the best way to structure our 5 member partnership, from a practical, legal, and financing perspective. Thanks BP!

Three friends and I are super excited to begin our RE investing journey together via multifamily 4-plex properties in Las Vegas. We have each committed to be equal investors (25% each). However, if its possible to reap the benefits of house hacking (FHA financing w 3.5% down), i would be willing to occupy one unit in the property, me being the most local to Las Vegas. Is househacking and investing with partners mutually exclusive? I don't have the best credit and would probably need one of my partners to assist in qualifying even for an FHA. But does FHA allow co-signers other than the occupant of the property? In other words, is there anyway to househack and get my partners involved in the investment as well in a structure that makes sense for us? Thanks for any guidance, BP!