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Updated almost 4 years ago on . Most recent reply

Stephen Mwangi's profile image
Stephen Mwangi's profile image
Stephen Mwangi
  • New to Real Estate
  • from Boston, MA
  • Member since May 19, 2021
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Stephen Mwangi's profile image
Stephen Mwangi's profile image
Stephen Mwangi
  • New to Real Estate
  • from Boston, MA
  • Member since May 19, 2021
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Stephen Mwangi
  • New to Real Estate
  • Boston, MA
0
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Buying & Selling Real Estate

4 partners planning to buy multifamily home with FHA loan.

Stephen Mwangi
  • New to Real Estate
  • Boston, MA
Posted

We are 4 partners planning to buy multifamily home with FHA loan 3.5% down payment. We cannot afford to put down more than the 3.5%. We do not have an LLC. Should we get one?. If not how can we protect our investments if one of us partner possibly experiences a financial breakdown? We do not want to lose our investment. I will appreciate your help/advice. Thank you.

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Eric James's profile image
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Eric James
  • Investor
  • from Malakoff, TX
  • Member since May 2, 2017
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Eric James's profile image
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Eric James
  • Investor
  • from Malakoff, TX
  • Member since May 2, 2017
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Eric James
  • Investor
  • Malakoff, TX
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Eric James
  • Investor
  • Malakoff, TX
Replied

If you can't afford to lose 1/4 of a 3.5% downpayment you can't afford to buy real estate. 

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