Investing with father

[Duane Saipaia]

38 y/o looking to invest with father in July. He's retiring in the savannah Ga area and already has a portfolio of 7 homes in Philadelphia. Was told to bring $8000 and he would match my investment for down. Home would be in his name as my credit is shot and my next home purchase would be with the FHA program. For someone who hasn't had any savings or experience in investing would this be a great opportunity?

What can I do on my end to help make this process more successful?

[Dylan H.]

@Duane Saipaia

Hey Duane! I think we may need a few more numbers/details to decide whether this is a good deal/idea for you. With it being your father your investing with, at least you’re safer on that front with having someone you trust to potentially partner with. Are you going to split everything as far as cash flow and equity is concerned?

Also, I would keep in mind that if neither of you are familiar with the Savannah area I would be careful about buying C class house in a C neighborhood since that’s about all you can buy with $16k as a down payment (Obviously I don’t know what your plans on financing the property). Definitely make sure you’re talking to some PM’s in the area about any potential purchases to get their perspective as well.