All Forum Posts by: Jake Riordan

It depends on the lender of course & what type of loan, but I don't think you could use it for a fannie/freddie residential loan. Unless you were talking to a small bank that holds their loans in house.  Parents might have to cosign as well.  I believe on a commercial loan, they would look for around 10% of your own money, so could probably use some from your parents.  I'd ask around & just check.  Let me know if you want the name of a lender.  Good luck!

I've done quite a few HUDs in KC area.  Although I wouldn't limit yourself to just those.

Probably just do a commercial loan if can't get residential.  Try Bank of the West as they've got a 15 year fixed or 10/25 for 4 units & under (5+ units the do 10/30).

Will do!

KC is a great area to invest in.  Lots of great options!  Best of luck with your search.

Hey Nic. I'm also in KC if you want to chat or meet up while you're here. I can also set you up on an MLS search if needed as a lot of the smaller multi fams are on there. Best of luck!

He Samantha.  MAREI & Kim Tucker are great, along with all the great people there - other investors, investor friendly agents like myself, contractors, deal seakers, you name it.  I haven't been to Nathan Brooks one yet, but plan on going soon.  Let me know if you want to chat some time.

I went to them for the first time a few months ago & it was 10.25 & 2.25, depends on the deal I believe.  

Bank of the West has the best loan programs that I know of for 5+ units & they work with out of town buyers.  15 year fixed & 10/30 with reasonable rates.  Let me know if you want LOs contact info.

Merchants Mortgage has pretty good rates. 2-2.5% origination & then 10-10.5%. They do 90% I believe on both sides, ARV 75%. Let me know if you'd like some MLS comps too. Good luck!