Large privet lender willing to give but don’t know where to start

Large privet lender willing to give but don’t know where to start

Rental Property Investor · Cookeville, TN · Member since 2017 · 6 posts · 1 vote

I have a large privet lender willing to become my bank but I don’t know where to start.

So I am 25 and have closed my first deal 6 months ago and in contract on my first duplex. I am loving it and desire to set my family up for financial success because I am actually a college minister. I desire to continue to buy more investments but I am not swimming in cash. My dad and I have partnered on these deals and are moving forward.

Here is the kicker this large privet lender who is interested is also my dad. He has done very well in his line of work and has retired and has a lot of cash. He has even mentioned he is interested in being my bank, so ever since I herd that I have been trying to research how he can do this to his benefit, and I am also hoping to be able to put low to no money down.

What I am hoping is that some folks would be able to point me in some direction of to what to read or where I can learn, and let me know if this situation is impossible or workable.

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  • Member since 2018 · 50 posts · 17 votes
    7y

    Decide if you are wanting to pursue fix and flips, or buy and holds usin the BRRR method first. If you haven't gone Pro on a bigger pockets I recommend it for using the calculators and other tools that make evaluating properties much easier to evaluate and show your Dad the breakdown of where the money will go. I am new myself and learning how to find the lending portion but that is what I have found so far. Checkout Brandon Turner's books. He has several good ones.

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