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Updated about 9 years ago,
- Rental Property Investor
- Yokohama Shi, Kanagawa-ken
- 30
- Votes |
- 81
- Posts
Moving beyond 4 mortgages from 6200 miles away (with my Brother)
Hello all! I'm looking for some feedback regarding my thoughts on how to acquire my next buy and hold property.
I currently own 4 duplexes in Ames, IA, and after many years of expensive lessons, have finally turned them into solid income producing properties with growing equity.
I've also moved to Japan.. So, this creates a number of hurdles to acquiring my next state-side property.
I'm willing to keep searching for a lender that will work with me. However, after talking to my brother, he expressed interest in getting involved. He has a decent income and zero debt. So, we were considering getting the loan in his name, and I'd take care of everything else (down payment, setting up management, etc.) We're going to start shopping for lenders tomorrow.
Before we jump into this, has anyone else overcome the 4 mortgage/non w-2 income loan problem this way? And what's a good way to calculate our fair shares of the deal?
Any input would be appreciated.
Thanks!