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Updated almost 7 years ago on . Most recent reply

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4
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James N.
  • Texas
0
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4
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Buying 5th Property as Primary Residence

James N.
  • Texas
Posted
If I own 4 rental properties, could I still co-sign on a 5th property under my wife’s name for a primary residence?

Most Popular Reply

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27
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16
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JJ Bliss
  • Lender
  • Naperville, IL
16
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27
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JJ Bliss
  • Lender
  • Naperville, IL
Replied

I would recommend refinancing the first 4 with a portfolio loan to get it off your credit report and then you wouldn't have that issue anymore. When I first got into real estate investing I was taking mortgages out in my name and had a tough time with my primary so I refied them out and into an LLC and now I have 70 properties and all of them are owned in LLCs with the LLC being the borrower. Let me know if you wan to discuss further.

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