All Forum Posts by: Natan Gutt

@David A.

Ok. Since I’ve posted this question and learning more about financing I’d like to ask this a different way now.

I have a family friend that has a couple of rental properties. Partnering up with someone like him to help with, let's say, half the 20% down payment, but I take care of managing it, what would be the rough rule of thumb for splitting the property? 80/20? 70/30? I know to know fractional ownership needs to go through a business if it's not 50/50 correct? I have an LLC anyways.

For more context I am looking for roughly a 200k sfr with 3 bed and 1 bath. Going rent rents are roughly $650 a room, but all under one lease for $1,950

Thank you all for your input.

@Jordan Moorhead

I’m currently in a lease for my apartment for another 8 months but I’d still like to move forward with getting a rental property

@Ethan Perry

Hey Ethan, for That Loan I’m assuming it is owner occupied then?

@James Hamling

Thank you for taking the time to answer! I will look deeper into finding a private loan from someone. And not take an HML!

I live in MN and im trying to purchase my first SFR as a rental property. However I look at it I need to pay 15% down or live in it for a year first. Is there a way to secure a loan that would require 10% or less as a down payment? Thanks for the help!