Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago,

User Stats

35
Posts
5
Votes
Kyle Dutson
  • Laramie, WY
5
Votes |
35
Posts

Can I use a cosigner on investment property loan?

Kyle Dutson
  • Laramie, WY
Posted

So, I am trying to get in the REI with little funds. So I am resorting to what Bigger Pockets refers to as creative financing.

I have some potential partners lined up and a property with a seller financer. I was going to propose to the seller carrying a note w/ a second pos. on deed for 30% of purchase price. Or whatever my partner can not cover. This may allow me to get a bank loan. Maybe!

If he goes for it I am unsure if I would qualify. I am a seasonal employee and am out of work at the moment (getting my real estate licence, but that's another story) and a credit score around 700 (2 late payments, shame). My partner (the old man) has exceptional credit, a six figure salary, and plenty in liquid assets. He offered up gis credit last we spoke. Just kind of hinted "you know Kyle, I have great credit." 

Is it even possible to use a cosigner on an investment property? Commertial residential at that (6 units).

Loading replies...