Getting My Feet Wet.

[Lee Nguyen]

Hey BP. Here's my situation right now. I have a condo that I got for 66.5k on 30yr VA mortgage. I fixed it up a bit and got it appraised for 110k and got a 30k HELOC. I'm now done with my renovations and doing another HELOC to take whatever I have left out and will be renting it out in a few months. My progress got the interest of potential investors who are looking to get into rental properties with me.

My question is how do I work with investors when it comes to getting a mortgage under my name?  How do I effectively use OPM toward a mortgage? 

My thought is to have them as a co-signer or put the investors' capital under an LLC to supplement the down payments. I would then pay them based on some percentage of the profits the LLC as a stake in. I feel like there's plenty of directions to go but not sure which direction is the most profitable for everyone.