Multi-Family Investing Strategy Question

[Robbie Shiver]

Hi all - new to the forum...  I am looking to purchase a four unit multi-family in Atlanta.  I will be financing it but I would like to move my mother down to Atlanta as she is getting older and would like to be closer to me.  I would like to use an FHA loan and have one of the units be my mother's primary residence while renting out the other four units.

My question is what would be the best way to go about this.  My mother owns a home and the properties I own are under a separate LLC.  Would making another LLC with my mother in it allow me to get the FHA loan and have her be the primary resident for one of the units?  Obviously I'd like to avoid purchasing the property in my name and would prefer to be covered under an LLC.

Any suggestions?  Thanks so much!

[Steven Foster Wilson]

Quote from @Robbie Shiver:

Hi all - new to the forum...  I am looking to purchase a four unit multi-family in Atlanta.  I will be financing it but I would like to move my mother down to Atlanta as she is getting older and would like to be closer to me.  I would like to use an FHA loan and have one of the units be my mother's primary residence while renting out the other four units.

My question is what would be the best way to go about this.  My mother owns a home and the properties I own are under a separate LLC.  Would making another LLC with my mother in it allow me to get the FHA loan and have her be the primary resident for one of the units?  Obviously I'd like to avoid purchasing the property in my name and would prefer to be covered under an LLC.

Any suggestions?  Thanks so much!

 Hi Robbie,

I like your heart for wanting to help your mom. I too have been helping my parents in RE. What I like to do is call as many banks as I can. When I am looking to buy or refinance a property I will often call 10-20 if not more a week. I have found some incredible loan options by doing this. If I were you I would call local brokerages and ask them what banks and loan products they are using.