All Forum Posts by: Spencer Davis

Hi All - 

I'm currently in the market for a quad where I intend to owner occupy. I would like to go for FHA financing but the properties I have seen so far are fully leased. Does anybody know if there is a grace period to qualify for owner-occupied financing if property is fully leased or do you have to occupy the day of closing? 

Any advice would be much appreciated!

Hi all, I have a question to bounce off the community. Does anybody have experience getting an FHA loan for 2nd property while having conventional loan in place on 1st property? I would like to rent out my SFH that is conventional while obtaining a multi-plex (up to 4 units) with FHA financing. I have no FHA loan in place on any property.

Hello All,

My name is Spencer Davis. This is my first post, my first question as well as my introduction. I am a new to real estate investing but have been observing from the sidelines for several years now. For 10+ years, I have been involved in commercial real estate business on the construction management and leasing side. My area of focus is buy/hold with value add opportunity for small multi family residential units around KS and MO. 

I am originally from Kansas City and I just moved back about a year ago. I have lived in a nice SFM for a year now but I want to move out make it my first rental. The property will no doubt cash flow but with my current SFM becoming my first rental, I was wondering if there is anybody out there that knows of a good RE accountant locally. Also, does anybody have any input on creating LLC's for your different properties? Going forward, I would like to create different LLCs for my properties to help mitigate the risk but don't know if this is an industry norm in the residential world. 

Any input would be greatly appreciated and once again I am glad to be a part of the BP community. Thanks!