All Forum Posts by: Madden Telles

Hey Investors, I am interested in pursuing a career in investment real estate and I am looking to provide investors in eastern MA with value: market your properties, landscaping anything that I can do to help. In exchange I was hoping this could be a learning opportunity to help pave the way and set me on the right track for when the time comes after high school to purchase my first investment property and start the snowball.

@Brittany Minocchi

Thank you for the advice though it isn’t possible to use business credit to fund the down payment?

@Andrew Postell

Thank you I appreciate the advice however, you mentioned that FHA doesn't permit LLCs to be the responsible party therefore a conventional loan would work?

I am a 16 year old planning to form an LLC under my parents name in order to qualify for business credit to cover the down payment on my first investment property I will also pair the business credit I am able to qualify for with cash and refinance to pay off the down payment when the interest starts to kick in but I am wondering if when applying for a FHA loan on an investment property if they require income to qualify or if they will accept it because I will be renting and covering the mortgage with the rent and how that all works when qualifying and if this is even possible. I am also wondering if there are any tips you could give me as a 16 year old who has been consistently learning about RE and is eager to start.