Hi, I'm new to BP and looking for a NY RE Lawyer

[Raymond Lee]

Hi BP members,

As I've mentioned, I'm new to BP. So please bare with my questions if any of them have previously been answered. I've tried to look up these topics before I posted these questions.

Scenario:

My father owns multiple Brooklyn, NY properties free-and-clear + 1 HELOC (~100k) balance.

He's semi-retired, > 800 credit score, and ~100k debt from his HELOC.

He's tried to reach out to obtain another HELOC, but can't obtain one because he doesn't show enough income.

Q1: What are his options to tap into his equity for further RE investing?

Q2: My father wants to add his children (myself included) onto the house deeds. He's heard conflicting sides from RE lawyers about the tax implications. How can he add his children onto the deeds w/o incurring huge tax implications (if possible)? Does anyone have a professional contact that I may reach out to?

We have been contemplating the idea to add myself onto the house deeds and obtain a HELOC under my name because of my W2 income.

Thanks in advance for your help BP community!