First BRRRR deal with family?

[Jorge Rivera]

Hey BP,

I'm ready to do my first BRRRR deal! I'm wondering if you all think it's a good idea to have my family as my first tenants? They're responsible so I'm not worried they wouldn't pay the mortgage. They have been renting for over two decades so I want to help out. Any downsides to this? Thanks!

Also, my dad's a contractor so I'm planning to work with him on my BRRRR deals. He will be living in my first deal.

[Dan Gamache]

@Jorge Rivera Keep in mind that many commercial/private lenders that lend on these type of deals would not allow you to have a family member as a tenant.