All Forum Posts by: Brandon Rabe

Hey @Brittany Weimer welcome to BP! You'll find great people and great content here! Are you guys focusing in on the Denver market or have you folks explored out into the midwest markets? Do you guys plan to buy turnkey properties or brrrr?

@Leo Peralta Welcome to the world of investing! What an exciting time! Congrats on your home purchase and also making the decision to look at rental properties. Are you planning to stay in the San Diego market or are you looking to invest out of state?

Looking for someone who does project managing on sfh's up north. I'm an OOS investor and face the drawbacks of actually visiting and managing a project in-person. If you know of someone, please let me know. Thanks

I'm interested in attending

When's your next event?

Hey @Jessica Haleck have you considered Kansas City? I've done a couple BRRRR's out there from Hawaii.

Congratulations @Michael Shields!

Hey @James Rodenberg and @Brad Kanouse I'm implementing the brrrr strategy remotely and have completed a handful of them so far. Most are north of the river, but I'm looking in Raytown, Grandview, and Independence as well. I don't live in KC so to virtually connect works for me!

Welcome to BP! Best of luck to you on your journey. Why did you pick KC to invest in?

@Eamonn McElroy Thanks for your input. I agree, finding out why they're in this situation in the first place is important. What I had in mind was, before even applying for the heloc, to address their financial budget and hold them accountable for 6 months to see whether they can steward the lump some of money when it comes in. If they can demonstrate that they can, when the lump some comes in, I would still be in charge of distributing when and how it is spent. 

What's going for them is they wouldn't have to pay it back. Instead, I'd be paying it back for them as their "interest" as a private lender.

So here’s the situation, my parents are financially strapped and are considering selling their home to me so I can rent it out to them for less than what they’re current mortgage payment is. I’m not so interested in buying their home or taking on a mortgage, but I do want to help them out.

Idea: Have my name added on to the title, pull out a heloc of maybe 100k (home has a good amount of equity, but they don’t qualify for a heloc), then split 90/10 between myself and my parents. They’ll get 10 to pay off any bills or assist in mortgage payments and I’ll repay the heloc in full. I'll invest the 90 on sfh and we split monthly cash flow 50/50.

What are some of the issues with this idea? Is it impossible? Is it legal? Gift tax? Triggering due on sale? Etc. Open to other ideas as well.