All Forum Posts by: Cade Antonucci

Might want to look into portfolio financing or a blanket loan. As long as each property debt covers you will qualify. Typical downpayment required is 25%. No DTI required.

Thank you for the information!

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Quote from @V.G Jason:

Quote from @Cade Antonucci:

I am currently analyzing the purchase of 17 units from another real estate investor. Looking over the numbers, everything makes sense and I would like to go forward looking for financing. This would be the first time I would purchase multiple units at one time, Before I only have purchased single family homes one at a time. What kind of financing should I be looking into? What kind of down payment will i be looking at? What do I need to show as far as income and debt to equity ratio? I would appreciate any help this forum can offer!

Isn't that the kind of stuff that would tell you if it would make sense?

How are you able to say everything makes sense without those aspects?

I pulled an estimate out of my *** for an interest rate at basically a 20% down payment option and the cash flow was more than sufficient to cover my fake scenario. The rents are good for the price, so just looking to see if my estimate matches the reality of what I would get as far as financing to keep moving forward in the process.

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Quote from @Deandre P.:

Was property 1 purchased with FHA? FHA seasoning requirements state you have to live in the home as your primary residence for at least 12 months. So if you plan to live in the duplex/triplex for at least a year, you may be able to qualify, assuming Property 1 was not purchased via FHA. If it was, you can still possibly qualify, however the guidelines are more stringent. Unless you are moving to a new area or significantly increase family size, you may not get approved to have two FHA loans.

None of the properties were purchased via FHA. All I am looking for is to get one so I can move out of my parents home.

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Newark, New Jersey

Quote from @Tim Johnson:

If property 1 is still legally your "primary" residence....i.e., you haven't adjusted the mortgage to make it an investment property, then no, you won't be eligible for an FHA loan. (You may be committing mortgage fraud however.) If all three of your properties are investment properties, you would be eligible to purchase a home (SFR up to a 4-unit) as your primary home with an FHA loan.

I waited the required year to turn it into an investment property, so I do not believe I am committing mortgage fraud. But thank you for the response it was very helpful!

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Newark, New Jersey

I already own multiple rental properties, 2 as of right now and going on my third, and I was wondering can I qualify for an FHA 3.5% down house hacking loan for a duplex or triplex still?

Property 1 was purchased as a primary and is now rented out and the other 2 are investor mortgages.

I would appreciate any help on this!

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Newark, New Jersey

Thank you for reply, that helps a lot!

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I am currently a real estate investor and I have a roommate from college who is a resident of Germany who wants to get into purchasing real estate in the united states with me. I would like to create a partnership with him so he can obtain financing in the United states with me to purchase property. If a bank were to look at this situation would we be able to take both of our salaries to satisfies the banks debt to income ratio or would it be all on me because I am the domestic resident?

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All Forum Posts by: Cade Antonucci

Cade Antonucci has started 10 posts and replied 18 times.

Post: Looking at purchasing a portfolio of 17 units

Post: Looking at purchasing a portfolio of 17 units

Post: Looking at purchasing a portfolio of 17 units

Post: Can I qualify for FHA

Post: Can I qualify for FHA

Post: Can I qualify for FHA

Post: partnership with a foreign investor

Post: partnership with a foreign investor