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Updated about 8 years ago on . Most recent reply

Aaron Barrett's profile image
Aaron Barrett's profile image
Aaron Barrett
  • from Iola, Wisconsin
  • Member since Sep 2, 2016
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Aaron Barrett's profile image
Aaron Barrett's profile image
Aaron Barrett
  • from Iola, Wisconsin
  • Member since Sep 2, 2016
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Aaron Barrett
  • Iola, WI
7
Votes |
42
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Wisconsin Real Estate Q&A Discussion Forum

Loaning Down payment

Aaron Barrett
  • Iola, WI
Posted

I have a deal lined up to buy a duplex in Wisconsin. My parents own a few rental properties that are paid off and we are interested in taking out a HELOC on one of their properties and using it to fund the down payment on my deal. I would then use cash flow to pay their HELOC payments until we are squared up. I understand they can't gift it to me, so can they come on as investors instead since it is not a gift?

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Jeff B.'s profile image
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Jeff B.
  • Buy & Hold Owner
  • from Redlands, California
  • Member since Oct 28, 2015
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Jeff B.'s profile image
Jeff B.'s profile image
Jeff B.
  • Buy & Hold Owner
  • from Redlands, California
  • Member since Oct 28, 2015
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
Replied

You show the bank statement.  It represents itself :grin:

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