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All Forum Posts by: Kyle Lancuski

Kyle Lancuski has started 3 posts and replied 3 times.

Post: House Hacking Tacoma

Kyle LancuskiPosted
  • Rental Property Investor
  • Bristol, RI
  • Posts 3
  • Votes 5

I just relocated to Tacoma from the East Coast. I'm green to investing and looking to learn and connect with the real estate community here. My goal is to own 3 doors this year. I'm currently working on getting my RE Licenses in WA and plan to house hack a SF. Is anyone renting out bedrooms on the South/East side? or have any advice to which area I should focus on or avoid.

Cheers,

Kyle

Post: FHA Loan & Partnership

Kyle LancuskiPosted
  • Rental Property Investor
  • Bristol, RI
  • Posts 3
  • Votes 5

I and two other partners (very good friends of mine) want to be Financially Free. Last 6 mouths we have been educating ourselves w/ real estate and building our capital. We are all putting equal cash into the deals and will share equal responsibilities of the business making us 33.3333% partners for equity+cash flow. Our strategy Is to use a FHA loan 3x in one year. Ideal every 4 months finding a new MFH (that generates A/B return for house hacking for the year) with huge upside return on the following year & rotate putting the mortgage in the next partners name and (hopefully) put the other two on the title.

Concerns & Questions...

Does the FHA Loan have Restriction against putting people on the Title and not the mortgage?

If so, is there a way around making this strategy work?

Meaning...

Such as being silent partners & gifting the closing and down payment?

And if that’s possible..

Any suggestions how we could form a legal partner agreement that would give us equal equity to home and cash flow?

Cheers,

Kyle

Post: FHA Loan & Partnership

Kyle LancuskiPosted
  • Rental Property Investor
  • Bristol, RI
  • Posts 3
  • Votes 5

I and two other partners (very good friends of mine) want to be Financially Free. Last 6 mouths we have been educating ourselves w/ real estate and building our capital. We are all putting equal cash into the deals and will share equal responsibilities of the business making us 33.3333% partners for equity+cash flow. Our strategy Is to use a FHA loan 3x in one year. Ideal every 4 months finding a new MFH (that generates A/B return for house hacking for the year) with huge upside return on the following year & rotate putting the mortgage in the next partners name and (hopefully) put the other two on the title.

Concerns & Questions...

Does the FHA Loan have Restriction against putting people on the Title and not the mortgage?

If so, is there a way around making this strategy work?

Meaning...

Such as being silent partners & gifting the closing and down payment?

And if that’s possible..

Any suggestions how we could form a legal partner agreement that would give us equal equity to home and cash flow?

Cheers,

Kyle