Finance source for first time investment? - Posted by jrr

Real Estate Investing Real Estate Financing
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Posted by Ed Garcia on May 13, 2003 at 10:02:59:

jrr,

Based on the minimal information you’ve provided us, and assuming that your credit is not complementary to doing the deal. I would take the deal down in my brother’s name as Owner Occupied and then ad my self to the deal after it goes down.

Remember, your brother can also use the income from the other three units to help him qualify for the loan. He also will get a little better rate for going Owner Occupied.

Ed Garcia

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Finance source for first time investment? - Posted by jrr

Posted by jrr on May 13, 2003 at 08:22:20:

My brother and I are planning to purchase a rental property(duplex or a 4-plex). My credit is not so great, while his is very good. Is there a way to finance in his name while using both of our incomes to qualify? Also, what kind of down is usually required for rental property. Oh, my brother plans on occupying one of the units, if that makes a difference.