Could I mix loan types?

[Damonta Samuel]

Let's say I wanted to buy a house. My first rental property but I don't have the 20% to put down for it. Would I be able to get a FHA loan and only have to put down 3.5% and have a "Partner" Fund the down payment for the FHA loan? I was thinking that in a situation like this I wouldn't have to come out of pocket one bit and this also would be a lot better for my "Partner" that's funding me for my first deal. Any other advice or ANYTHING AT ALL will be greatly appreciated. I hear you can get creative with real estate investing when it comes to buying properties but im not sure exactly how. Excuse me for my ignorance and please inform me.

[Tim Herman]

@Damonta Samuel if you are partnering on an investment , yes you will have to have a minimum of 20% down. If I was going to start over I would buy small multi. By owner occupying you can get by with less than 5% down. Real estate is money intensive. The odds of finding a no money down are slim unless the seller is really desperate. Save up your money and do it on your own. On a $100000 duplex with a FHA 3.5% down it is only $3500 down and ask the seller to pay closing cost. You will still need some additional money in reserves for 6 months of expenses. So for around $7000 you can do it on your own. Save $600 a month and buy a year from now.