All Forum Posts by: Chris S.

Hello! Hopefully I am in the right area for this question. I recently got into REI and have 2 fourplexes which cashflow pretty well. I am looking into picking up another property, but have a crippling $668 truck payment from a cpl years ago when I was younger and slightly dumber. My business account with the fourplexes is doing quite well, and could take a hit of 668/month.

I work full time as well, and was wondering if I started an LLC and transferred the vehicle loan to the LLC, assuming I even could, would that free up my DTI for future purchases?

I realize legal ramifications on transferring properties/vehicle to the LLC, was just wondering if it would work the way im hoping it would. Also I figured I could factor that into the business expense future taxes.

Ad of right now I do not have an LLC, I just keep all the finances seperate. Woukd ve nice to free up 668/month in my personal account and just use the business one to pay for the truck.

Any advice would be greatly appreciated! Thanks

Cop in Alaska. Night shift. Jobs insanely chill tho where I am so I just listen to real estate audio books and learn real estate stuff while I drive in circles.

theres tons of things you can do. Get married, divorced, have kids...Or the easy one is to just write to the FHA and explain why you need to get out of living there and relocate. IE its a high crime area and you fear for your safety. You of course did not realize this when purchasing the property. Or your sister/brother/mother is moving in with you and you need a bigger place to live. Like, you could buy a fourplex, then 6 months later your brother is moving in with you so you need to upgrade to a nicer duplex for room. Or your moving for your kids sake, better schools etc. Theres a laundry list of reasons. (I am not at all telling you to lie to the federal government, just giving you suggestions on ways to get out of it.) Biggest thing is write to them, they will work with u.

After you are married yes. What I would do is each buy a property now using FHA, then when yall get married one of u can move out to live with the other by writing to the FHA people (gets you out of the residency clause if you get married) thus turning it into an investment property but with the same stipulations as FHA. or, you could each buy a fourplex with FHA, wait 6 months, get married, write to the FHA explaining tou were married and it no longer suits u, and them buy a duplex using conventional. Or a SFH. Just make sure your loan officer will work with u on it. My fiance and I are doing this exact thing. FHA will give you two concurrent loans, you just have to have a good reason for it. IE you were just married. You could of course do duplexes instead of fourplexes, or w/e u like.