Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on .

User Stats

3
Posts
0
Votes
Adam Barlow
  • Urbandale, IA
0
Votes |
3
Posts

Investing in first single family with brother as owner occupant

Adam Barlow
  • Urbandale, IA
Posted
I am investigating ways to get started in real estate investment. I am contemplating working together with my younger brother. My brother purchased a condominium about a year ago and we have fixed it up quite a bit over last few months. My thoughts are moving forward that we could sell that condo for a decent profit potentially and then purchase a distressed single family, utilizing my brother as an owner occupant. We both have adequate construction experience and would do the rehab work ourselves. Our goal is to try and do a couple flips first to establish some capital and then invest in some buy and hold. Questions are: Are there benefits from a loan down payment standpoint? If owner occupant, what are rules for how long you have to live in the property? Which type of loan should we focus on? Would I be able to use my own cash to also help with the down payment and rehab costs if it is his loan for owner occupant? Is starting a partnership entity a good idea, or better to wait until we have completed more investments? Any other general advice or recommendations?