All Forum Posts by: Gerald Amasol

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $250,000

Contributors:
Laura Marks

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Aloha BP!  We (mom and dad) currently have a pair of duplexes that we're closing on and originally we were trying to get one of our children to see if she could qualify for one of the duplexes on her own.  It didn't work out so now we're deciding whether or not to have her partner with us on the duplex and then eventually we'll (somehow) remove ourselves from it in the future.  The other option is to close on them as originally planned and have her continue to hunt for a property on her own.  I've never partnered with anyone before so I don't know how any of that works and would welcome input from those who are experienced in it.  Mahalo!

@Jared Hottle Thank you for the response! It's kind of a weird situation because my in-laws are sitting on a ton of equity on their primary home but they've been unable to refinance because of income (or lack of) as they're retired. So I'm just thinking of ways to get them to have passive income show up on their books. As for BRRRR'ing, I don't know if I would want my kids would to undertake something of that magnitude with their grandparents money!

Hi all, weird question time. My in-laws are retired and are cash rich but can't qualify for loans because they are on fixed incomes. Conversely, my son and daughter are working and have qualifying incomes but no down payment. Grandpa and grandma want to help them to start investing but I was wondering if anyone had an opinion on them partnering up instead so that my children would be able to start their investing journeys while my in-laws would be able to show passive income that could help them possibly invest their money in other rental properties on their own? I'm just trying to figure out a way to get both sides to help build up their portfolios and would appreciate any input!

 Thanks @Joe Funari for the advice! I was thinking they would probably go on together in an LLC. I believe my in laws already have a living trust so it should be an easy thing to have them ask their lawyer to update it as necessary. Thanks again!

Gerald

Hi all, weird question time.  My in-laws are retired and are cash rich but can't qualify for loans because they are on fixed incomes.  Conversely, my son and daughter are working and have qualifying incomes but no down payment.  Grandpa and grandma want to help them to start investing but I was wondering if anyone had an opinion on them partnering up instead so that my children would be able to start their investing journeys while my in-laws would be able to show passive income that could help them possibly invest their money in other rental properties on their own?  I'm just trying to figure out a way to get both sides to help build up their portfolios and would appreciate any input!

@Timothy Yang I might know one.  XD

My wife and I decided to invest out of state even though her dad is a contractor and could probably do an inexpensive rehab.  We looked at a few fixer uppers and tried running the numbers but could not get them to work for buy and hold.  They did look pretty good for flipping but sadly her dad didn't want to commit as he's got a bunch of jobs lined up that will keep him busy for the foreseeable future. 

So we hopped on here and got linked up with the awesome @Laura Marks and are working on a few deals in KC.  We also working through @Nathan Shepard for our loans there as well.  I did a few inquiries at a few local fcu's as well and I don't think it hurt anything in the process so far.  At least that I have seen.  

Hey Jared.  Tropic Lightning!  Yeah, it’s hard out here if you don’t have a whole lot of up front cash.  It’s a highly appreciable market (regret selling my first two homes!) so you will definitely get your money back and then some in five years or so.

That being said, my wife and I have been working with Laura and yes, we backed out of a deal.  That was a week ago.  But today we’re starting to close in on another property and my wife and Laura are already working on a second one.  I really need to separate them lol.  So I +1 Laura for sure!  🤙🏽