All Forum Posts by: Joe M.

Hi!

I am looking to buy a property and use my HELOC for the down payment. I would like to be able to pay most of the down payment back shortly after I purchase. I have heard on the podcast of people setting a purchase price over the negotiated price and then getting the difference back after closing. For example, we agree to a purchase price of 250k. I end up paying 270k and get a loan from the back for that price. After closing, he pays me 20k to help me with down payment costs. He still gets the negotiated price, but it helps me quite a bit. How is this strategy structured?

Thanks!

@Andrew Postell thanks!

@Reid Chauvin thanks!

@Nick Belsky thanks!

@Caleb Brown thanks!

@Joshua Jarrett thank you!

Hey! I have a property I’m looking to buy. One bank is lending over 30 years and the other over 20. With the 30 year, my cashflow is much higher. The 20 year lender is trying to convince me a 20 year loan is better for investment properties and if the numbers don’t work well at 20 years then it’s not a good enough deal. Initially, I was leaning toward 30 year so I have more cashflow. Thought? Thanks!!

Hello!

I am partnering up with someone on a 4plex. They are supplying the down payment and I am handling everything else. What would be the best way to structure the partnership? I was thinking split cashflow, split equity after the equity gained from the down payment, split maintenance costs... what are some of the better ways to go about this?

Thanks!!

@Chris Seveney thanks for your help!

Hey! I have a HELOC on one of my rentals that I am looking to BRRR with.. what are the best sources/ways to find foreclosure/auction type properties? Thank you for the help!