All Forum Posts by: Jason Hartman

@Russell Gronsky, Thanks for the reply! I'll have to look into those other financing sources. 

I have been trying to find a bank that will give me a heloc on my rental unit and allow me to use it to buy more units and use the brrrr strategy to obtain more properties. I have talked to multiple banks and credit unions in the area and they have all told me that federal regulations do not allow me to use my heloc to buy real estate. Has anyone else run into this problem? If so, how did you get around this problem?

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Hello BP members! This is my first multi-family home purchase. My wife and I are just starting to get into investing. We're going to propose this offer to my brother and see if he and his wife want to invest in it with us. We could come up with enough of our own money to just buy it ourselves, but it would deplete any reserves we have. 

This looks like a good deal to me, but since this is our first deal, I wanted to see what everyone thinks about it and see if there's anything I'm missing. 

Also, what's the recommendation for cash flow percentages? We're going to propose a 50/50 split for the down payment, but I've done all the work so far and will probably be managing the whole thing myself. 

Thanks in advance!