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Updated about 6 years ago on . Most recent reply

User Stats

26
Posts
5
Votes
Victor Mays
  • Chicago, IL
5
Votes |
26
Posts

Need Help! Buying a FHA Home & Funding A Flip

Victor Mays
  • Chicago, IL
Posted

I'm looking for help . I am buying a Multi Unit in the next 2 months using a FHA Loan in Chicago. Also, I am partnering on a Fix & Flip. The deal with the investor is 50% /50% funding. I roughly look to get 40K at a good interest rate. I don't have the property in my name, but I just started my LLC. I don't want the flip loan to impact my FHA Loan. My credit is over 700 & I make a salary over 55K. What are some options I could use to get about 40K loan at good rates without Impacting my personal credit for the FHA Loan to buy the Multi Family? Any thoughts?

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