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Updated over 17 years ago on . Most recent reply

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25
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N/A N/A
  • Real Estate Investor
  • new york
0
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25
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brooklyn

N/A N/A
  • Real Estate Investor
  • new york
Posted

situation is like this my cousin and his wife have good stable jobs and income and are pre-approved. they have good great credit. they are in the midst of purchasing a property in the brooklyn area that is becoming a "buy it now market" it is a duplex. upper level is for them and lower level is rental about 1200 a month townhouse is for about 600,000. they plan on putting every dollar of the money from rental all to the house and mortgage

my issue is this. they asked me to get involved, if I put down 15000 how can i benefit from this? they said to me that they would like to use this brownstone as stepping stone to purchase a rental unit by next year.
perhaps they can use the first purchase as refinance or collateral.

how can i benefit from this in order to take the plunge with them for the second purchase of a all rental property ? do i need another large sum to put down again for the second purchase with them again?

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