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All Forum Posts by: Rob Saxelby

Rob Saxelby has started 6 posts and replied 25 times.

Post: Using an FHA loan on a multi family unit?

Rob Saxelby
Posted
  • Rental Property Investor
  • Posts 25
  • Votes 5
Quote from @Brittany Minocchi:
Quote from @Rob Saxelby:

@Brittany Minocchi - does that mean if we have four people as part of the team, one of those people has to live in the house? If so, I'm assuming we can't use an LLC for an FHA loan? Thanks for your second response to my post as well - appreciate it.


No problem! That's correct, you cannot close in an LLC with an FHA loan and a borrower would be required to occupy the property as their primary residence.


 Perfect - thanks for confirming! Appreciate your support.

Post: Using an FHA loan on a multi family unit?

Rob Saxelby
Posted
  • Rental Property Investor
  • Posts 25
  • Votes 5

@Brittany Minocchi - does that mean if we have four people as part of the team, one of those people has to live in the house? If so, I'm assuming we can't use an LLC for an FHA loan? Thanks for your second response to my post as well - appreciate it.

Post: LLC and Mortgage

Rob Saxelby
Posted
  • Rental Property Investor
  • Posts 25
  • Votes 5

Thank you so much for the insight - I really appreciate it!!! This is exactly what we needed.

@Doug Smith

@Brittany Minocchi

Post: LLC and Mortgage

Rob Saxelby
Posted
  • Rental Property Investor
  • Posts 25
  • Votes 5

Hi all,

I need some advice.

I'm looking to purchase a long term rental in my home state of Arizona. I want to protect my assets and use an LLC. I keep getting conflicting information on whether you can put the LLC down on the mortgage or if it has to be me with my other investors. Any advice is greatly appreciated.

Thanks in advance!

Rob

Post: Using an FHA loan on a multi family unit?

Rob Saxelby
Posted
  • Rental Property Investor
  • Posts 25
  • Votes 5

One question to add onto this. For the FHA - if you want to house hack you have to live in the property. Does that have to be you or can that be a family member? Are investors able to add money for the deposit?

Thanks in advance!