All Forum Posts by: Jared Bouzek

@Michelle Azubuike Try calling First Bank in their commercial department. I'm not sure on their seasoning requirements, but they have some of the best terms for commercial loans locally.

@Steven Tawresey You've been told correctly that Fannie and Freddie will not lend to a business. Even worse is that if you purchased in a business and then quit-claim it to your personal name, around 98% of Conventional lenders will expect you to re-season for another six months after the quit-claim. I do happen to know of one way around that, but it still involves putting the property in your name. You will still need six months of seasoning from the purchase because you used a hard money loan when you purchased. 

Your only other route is to get a commercial loan. Terms won't be as nice as a Conventional loan but should be better than what Lending One quoted you.

Hey @Charles Peralta. Good to see you on here again. I know a guy here locally who does some syndicating in large apartments. I can maybe do an intro for you a little bit closer to when you head this way if you would like.

Hey @Luke F. I see that nobody has responded to your question here. I generally like to defer to people who actively contribute on here, but if you're having a hard time finding somebody, I do have a guy I've worked with on multiple occasions for multifamily deals in the Springs. He has been great to work with every time I've had the opportunity and seems to have a good pulse on the market. Let me know if you don't find somebody on Bigger Pockets.

@Tammy Price The answer to your question is that is comes down to individual factors in your situation. The good news is that you should be able to count the rental income from your purchase, so that income can be used to help your debt to income ratio. You really just need to have a lender sit down and look at your qualifying factors to give you that answer. 

If your question was specifically about if you can use a VA loan to purchase an investment property, the answer is no because a VA loan can only be used for a primary residence. You could use a Conventional loan if you are looking to buy an investment property.

@Lisa V. Welcome to Bigger Pockets. You have found the absolute best resource on the internet to learn about investing in real estate. Glad to have you on board! Let us know how we can help you.

@Jaci Ampulski Welcome to Bigger Pockets and congrats on your new property! Do you mind sharing some numbers on your house in Loveland?

@Carissa Kruse Conventional and FHA loans are two different things. Primary residence transactions generally don't require reserves unless you are purchasing a multifamily property to live in.

Carissa Kruse A bank statement program might fit your scenario. I would start by making sure whoever told you not to go Conventional calculated your income correctly. You might find you do qualify with a Conventional loan. Most of your rentals should be offset by their rental income. How long have you been self employed?

@Eric Dupuis Virtually all of your owner-occupied mortgages (Conventional, FHA, VA, etc) have a 12-month requirement for you to live in the property. This is aside from extenuating circumstances.