That’s huge when you’re investing from out of state, because it means less hassle and more reliable returns.Turnkey properties are super popular here because they’re ready to go right away.

Hi everyone,Im trying to figure/find out how strict the rules are when it comes to getting an FHA loan (I want the minimum down payment) and renting it right away.

Wholesaling is definitely a learning process, but here are a few tips to help:1.Build a reliable list of cash buyers.2.Research the areas you want to focus on.3.Get comfortable with contracts and paperwork.4.Focus on negotiating great deals with sellers.5.Stay organized and keep track of your leads.6. 

Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.

You need larger down payment: 15 to 25 percent down, depending on your profile and property type.

Very little documentation requirements, no income requirements, etc, just need to have on-time payment history for previous 12 months, and be lowering your interest rate at least .5%. 

Payments can be made in either 3 separate payments or in paid full around the thousand dollar range.

One concern I have is knowing when and how I should go about refinancing an FHA loan.The reason for an FHA loan is because though I have enough for a down payment I am not ready to commit all of it.

Non-payment of rent is always the path of least resistance to get someone out in a somewhat timely manner.

But with the EOY right around the corner need something more reliable.