Hey all - had a question about multi-member loan borrowing:I am looking to invest with 5 other investors (tenancy in common) with a conventional loan.

5% owner occupied conventional financing.

Conventional financing How did you add value to the deal?

If you are specifically talking about conventional financing then yes, a conventional single family residence mortgage cannot be lent to an llc.

Offer was not accepted but submitted a backup offer and on circling back found out that there are some barriers to financing historical properties with conventional loans.

There is a way to go conventional and put 20% down to avoid PMI and at closing-(Same time) you can take out a HELOC up to 95% CLTV which would be a stand alone second which allows you to get back some of your money 15% of the 20% but in the form of a HELOC - like a credit card that you use when you need it for what ever only paying on the amount you useIf not then you can do an FHA 203K and fix all the issue up front so that the home is up to PAR.

Is this a conventional loan, FHA, VA, etc...I can price it on my side to see if it's similar. 

Even if you buy with cash or hard money rather than conventional, you can still pull your money out immediately after close.

I recently purchased a 2nd home using conventional 10% down.

My lender is quoting me a conventional loan at 5.8% with 20% down.