Jimmy Suszynski
How to borrow money from friends/family
I have a handful of friends and family members that are interested in lending smaller amounts ( <$5,000) for house flips and BRRRR deals. This cash could help with interest-only payments and down payments. I formed...
Adam Carbone
Borrow Additional Capital from Family for Mortgage?
Hello, newbie here! Looking to house hack for my first property and first home around Louisville, Kentucky. My wife and I have no debt and are looking to maximize that opportunity by purchasing a duplex and renting ou...
Andrew Bennett
Private money rates when borrowing from family
What is a “fair” rate to pay a family member for the first time borrowing money from them?What kind of return should they get for:1. $5,000 2. $15,0003. $30,000What is the best way to repay them?1. Lump sum at the end...
Bob Malecki
Borrower BK 7 Discharged but not closed?
I just purchased a 1st position NPL on a home in Oklahoma and found out from FCI's bankruptcy specialist that the borrower had a Chapter 7 bankruptcy in 2009 which was discharged in 2012 but not yet closed. This was n...
Linda Brent
Purchasing rentals without impacting personal borrowing power
I am a new investor interested in financing a few rental houses over the next couple of years. My husband and I have an LLC for this. My problem is that we have complicated personal real estate maneuvers to make over ...
Samantha P.
Borrow from family member or FHA Loan?
I am currently in the process of looking for my first multi-unit building to purchase and rent out. My brother has offered to loan me the money to purchase a building with cash and I could just pay him back the exact ...
Justin Fox
OPM and borrowing entire down payment question.
If I were to borrow someone's money to put the down payment on a house and the investor didn't want to be paid back over a term but a forever 'dividend' (I guess). How would the money (rental profit) be split up typi...
Account Closed
How to word prepayment penalty when borrowing
I've negotiated a purchase with 10% down and seller carry back for the rest. Seller agreed to purchase price and terms. Loan is for 120 days and the seller wants to be guaranteed the 120 days of interest (6%) regar...
Corey Dutton
Scams in Forensic Audits Cost Borrowers Millions
Foreclosure rescue scams, also known as forensic loan audits, are still alive and well. In a loan modification scam, a forensic attorney or CPA, agrees to review mortgage loan documents in exchange for a fee. These...
John T.
VA loan with non-vet co-borrower
Hello BP. I have my COE for a VA loan but will probably need a co-borrower (my father). I want to purchase a 4 plex. I understand that I would need to owner-occupy one of the units. My question is... can the co-bo...