Ways to help daughter get a start in real estate investing

[Amy Martin]

Dear BiggerPockets Community,

I am new to BiggerPockets here but would like to ask for some needed advice. Our daughter was recently laid off and is struggling to find work. However, she has savings that she's kept over the years and wants to use it to invest in rental property so she can be in a less financially precarious position. Without a job though, she’d likely not qualify for a mortgage (she is an actress, so no stable income there!). My husband and I have been thinking of how we can help her get a mortgage (without co-signing). We are retired and currently own four properties that generate rental income for us. So we were wondering if there are ways we can use our properties to help her qualify for mortgages (outside of co-signing) so she can start purchasing her own investments?

Some ideas we brainstormed:

- Hire her as a property manager and pay her to manage our properties (though we only have four).

- Transfer ownership of one of our rental properties to her so she can add it as her own income.

- Lease a property to her, and then let her do Airbnb to make money (though in this environment it seems Airbnb is not doing well).

We are not really sure what the best path is going forward, so any suggestions/advice on this matter would be much appreciated.

Thank you BiggerPockets community!

Sincerely,

Amy Martin

[Robert C.]

@Amy Martin, Hi Amy - without cosigning, I think your lending options are particularly limited during the current environment. However, I believe now is a great time to learn the business. Would she be interested in learning from a different angle, such as becoming a real estate agent? Many of the agents I know who started at the beginning of the 2008 crisis did quite well in subsequent years. There was enough runway to learn the business in time for when the market took off again, and they were able to reinvest earnings in their own investments.