Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 3 years ago,
Dealing with family members as Investors
My wife and I recently bought our first rental. Currently the property is a single family house which sits on a double lot and is zoned for multi family use. Our goal is to build a multi family unit in the next year, the only challenge is funding it. My father in law mentioned he would fund the down payment for the new construction loan, but hinted getting a cut of the cash flow every month. It would be great to get the project going but I am hesitant mixing family with business.
Has anyone had a similar experience with this?