Partner Real Estate Investment in Ellicott City, MD - SFH

[April Leclair]

Hello BP,

My name is April, and I have just finished closing a deal for my family’s house in Ellicott City, MD 21042. My mom and brothers live together, and they did not qualify for the income threshold, so I offered to become the primary borrower as I have a full-time job with good benefits. In return, we agreed on a 12:88 equity share between myself (12%) and my mom and brothers (88%). Of course the money is not liquid, and I became a lien holder without even having my own house (I rent now) but I did this out of 1) good heart and 2) get started on RE without risking too much. I never intend to sell this house as I would very much like to buy and hold once the property is paid off more and some move out. My mom will also have something left to give us for inheritance.

What are your thoughts, concerns, and opinions on this? I would very much appreciate your inputs.

Thanks in advance!

# Greensboro, NC

# Minneapolis, MN

# Ellicott City, MD