All Forum Posts by: Sofia Sendra

@Sofia Sendra- thanks ..are you planing to buy an investment property or a primary residence to begin with ? .assuming that you will need a loan / financing to acquire the first prop- I would recommend that the three of you get a loan pre approval for a hypotehtical transaction completed in order to determine if you can obtain a loan... as gifting funds isnt allowed for investment property purchase - your relative will need to be on the loan as well ....however you decide to split the profits (and to cover the additonal costs ) - make sure all scenarios are formally addressed in writing ...it might be worth meeting with a real estate type attorney familar with investors

We aren't sure yet if we want to use their help to buy a personal property now, possibly in the future. Does it matter which property we buy with them first, Investment or priamry?

0 Votes

Dallas, Texas

My husband and I are looking to invest in real estate, but don't have enough capital to get started. I have a family member I want to reach out to to get into business with together, as he has expressed an interest in real estate investing as well.

Our Business model would look like this: the family member putting up the money for the down payment, and my husband and I would be in charge of finding the deals, working the deals (we're both realtors), rehabing, and managing.

Is this a sustainable business plan? If so, how would we go about splitting the profits with our $ providing family member?

0 Votes

Dallas, Texas

All Forum Posts by: Sofia Sendra

Sofia Sendra has started 1 posts and replied 2 times.

Post: Private Lending from Family

Post: Private Lending from Family