Quote from @Donald Hatter: Hello fellow Bigger Pockets investors!

Good day mates🫡,I was told that you have to be in your residence for a certain amount of time before you can get a heloc on it.

If possible, ask fellow investors in your area for referrals to specific lenders they’ve had good experiences with.

Thank you for even considering helping a fellow investor!   

The first being - don't bring your friends or family into the mix :)Since it sounds like you're pretty solidified in your friend moving in, and it could be a good first roomie, so just to get your feet wet... i'll double down on Laura's advice - do a lease, for the legalities, but i also highly recommend some sort of written (we call it a) Room Mate Agreement.

Hence, I'm making you and my fellow investors aware that this may happen via Baselane. 

It's a mastermind, so not only classes but a community of fellow entrepreneurs with similar goals, industry experts, and accountability to get it done!

I just wanted to send out a quick note to see who are my fellow self storage investors on this forum?

I rented a 4-bed house in Royal Oak, then got 3 roommates that I charged each 30% of the rent, so they covered most of my  rent.You can do the same if you buy a house:1) More rooms the better, if renting to fellow college students.2) Can YOU live in the basement?

Looking forward to connecting with fellow investors, seasoned pros, and anyone who’s on a similar path of building wealth through real estate!