All Forum Posts by: Marcus Isaac

@Chris Mason

I was thinking that if I was a co-borrower, it would be a notch on my portfolio and it would help me to borrow in the future because of the loaner seeing some experience (I may be way off in my thinking..?). Also I want to have the ability to do what I need to do to make smart investment moves with the property (refinance, 1031 exchange, sell, etc.). I'm the one that will be making the moves, she's will be basically sitting back and collecting a check. So I'm just trying to figure out the best way to go about this. 

I just looked into being on the title, and that may be a good option. 

Again I appreciate the feedback everyone is giving. 

I’m looking to connect with agents and contractors in Delaware and Delaware County, PA. If anyone has any recommendations, I would appreciate it.

I'm a new aspiring REI in the Delaware area. I'm looking to invest in multi-family properties in the New Castle County and Kent County areas of Delaware. I'm also interested in Delaware County, PA (not that familiar with the area enough to know which part), because it's close to Delaware and I believe they have more options when it comes to multi-family.

Thanks in advance!

 @Chris Mason 

Yeah I understand that she would need to be there, but with me being the one that’s more informed about what would be talked about in the discussion and looking at as an investor and not just her purchasing a home, I would want to be there to ask the right questions.

Is it possible that we could co-borrow on the loan? (I saw this in an article: http://homeguides.sfgate.com/many-people-can-fha-l...) She knows this is an investment property, but I want the ability to re-finance and maybe take out a home equity loan in the future without her having to be so involved if she doesn’t choose to be or has other things going on as to where she can't be as hands on. 

Chris, 

I'll definitely be talking to a loan broker soon to help way my options. Appreciate your response. 

Hello All,

This is my first forum post on BiggerPockets. I’ve enjoyed clicking through the forum and have learned a lot. After tons of research, I’m starting to put my plan in place on how I can purchase my first multi-family investment.

I have a strategy that I’m leaning towards, but I need some insight on whether this is the right way to go, and if so, the best way to go about it.

I’ve sparked my family’s interest in investing, and I have their support, but I’m the one that will be spearheading everything. My contract just ended for the company I was working for and I don’t plan on going back until 2 months or so. I have good credit (700+), but lack the personal capital to garner a mortgage for myself (I believe) without getting creative.

My plan is to use my sister as the person to obtain an FHA loan (she has good credit 700+, Ok paying job, and capital). My question is how should I go about this so that I benefit (on paper) as being part of the deal? From my understanding you cannot obtain a FHA loan when using an LLC, so in what way can we partner on the deal? I'm pursuing the FHA route because I'm looking to invest with low money down.