All Forum Posts by: Elias Osborne

Hey Carla, in order to use a FHA loan, it has to be your primary residence. Since you own your home free and clear, that would be the best source of funds for your investment money. You can cash out refinance and make the money work for you or open a line of credit from your home and can use that for the down payment for the MFH. Then from there depending on your numbers and investment strategy, you can choose to fix and flip or BRRR. Don't let the casino rob you.

Hey Darryl,

House hacking would be your best bet to use your primary residence as an investment property. You can get a 1-4 unit residential home using a FHA loan and pay 3.5% down which can help financially. So you can potentially rent out up to 3 units and take profit from those, apply that to your mortgage and potentially live rent free. You just have to make sure you keep up to standard as a landlord.

You do not have to use a LLC in this case. It does help conceal identity to the tenants if they are not paying direct to you and you utilize a property management company. Initially it may prevent financing if trying to secure with an LLC.