$120k cash borrowed, now what?

[Francesco Barbati]

I borrowed $120k from a family member to buy a primary residence for me and my family (I will pay him back $1k/m for the next 10 years, starting next month, or refinance if needed).

Last night I was talking to my wife, and we just realized that maybe we can come up with something better (even if she really want little place with a little yard for the kids).

Live in flip? Duplex? Turnkey out of state? Foreclosure? I really like the BRRR strategy but it's "impossible" to find sealant here.

I live in South Florida, everything I see expensive and market always hot, market uber competitive.

What would be the advice of an experienced investor to a newbie with a young family?

[Andrew Johnson]

Francesco Barbati If you borrowed $120K from a family member at 0% interest (less than that when you factor in inflation) for the purpose of a primary residence, honor that. They might look at it like "Francesco can pay me back with essentially what he would be paying in rent." That's a very different proposition than "I'm going to risk this money on a flip!" Providing a 0% interest loan to help your son/brother/cousin/etc. buy a home for his family is not the same as providing a 0% interest loan to fund that same persons investment strategy.