Will JV Wholesale contract affect ability to purchase primary residence?

[Will Pickering]

Hello,

I am new to real estate and wholesaling. I've been fortunate enough to find a mentor who is showing me the ropes and is basically giving me cuts of his deals that I am working for him but we're going about it as a JV, as it's allowing me to learn the process of the sale, getting a contract, etc.

I am also currently in the process of buying my first home and the loan application is in the process of underwriting.

My question is, if I get a contract on a wholesale deal (still working on closing my first deal) and the take that to title, will that affect my loan process on my primary residence? I am under the impression that in a wholesale situation, that property would not actually ever be considered to be in my ownership, but I want to make sure of that so that I don’t screw up my ability to purchase my home.

Any advice is welcome! Thank you in advance!

[Eliott Elias]

No, it is untraceable and will not hit your credit unless you close.