Rental Property Investor · Chicago, IL · Member since 2020 · 49 posts · 9 votes
Hi I’m in the process of closing on my first multi family deal a duplex which I will be living in as well with my girlfriend and next year she wants to buy something or we can go in on something together but we don’t know if we want to flip a house or another multi family because she just filed bankruptcy last year and we don’t know what our options are for the next move so can someone please help me out cause I was thinking buy another building but she said a house anybody have any suggestions?
Hi I’m in the process of closing on my first multi family deal a duplex which I will be living in as well with my girlfriend and next year she wants to buy something or we can go in on something together but we don’t know if we want to flip a house or another multi family because she just filed bankruptcy last year and we don’t know what our options are for the next move so can someone please help me out cause I was thinking buy another building but she said a house anybody have any suggestions?
Your girlfriend will have a very difficult time qualifying for a loan (at least for many years to come). There are countless ways to fund deals. I recommend reading one of BP's books preferably The Book on Investing in Real Estate with No (and Low) Money Down.
Hi I’m in the process of closing on my first multi family deal a duplex which I will be living in as well with my girlfriend and next year she wants to buy something or we can go in on something together but we don’t know if we want to flip a house or another multi family because she just filed bankruptcy last year and we don’t know what our options are for the next move so can someone please help me out cause I was thinking buy another building but she said a house anybody have any suggestions?
Your girlfriend will have a very difficult time qualifying for a loan (at least for many years to come). There are countless ways to fund deals. I recommend reading one of BP's books preferably The Book on Investing in Real Estate with No (and Low) Money Down.
If it was me i'd be cautious to invest with her. 1)You guys are only dating 2)If she filed for bankruptcy would you trust her in buying property with you?
Make smart moves, if you do invest with her have an agreement in place if anything goes sideways.
I agree with all of the above. I mean there are different reasons for filing for bankruptcy so no judgement intended. I filed 7 years ago because of a cancer diagnosis and no insurance. Best thing I ever did...but once I was back on my feet I had to wait. I am just now able to be considered for loans and it has taken a great deal of work to get this far. Be careful and check all the boxes before you make any decisions.