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Updated over 2 years ago,
Using OPM (Friends and Family) for a Down Payment and/or Rehab
Hello!
I am getting started in RE investing, specifically looking at multifamily properties. I am currently exploring my loan options and I am being told that money from friends and family, or "gift funds", cannot be used. However, I do have friends and family who want to invest (not gift me the money) in my deals, but they do not have enough capital to purchase an entire property. What can I legally do to allow my friends and family to invest in my deals without it being considered a "gift fund" so I can still qualify for loan options to purchase a property and a rehab?