BRRRR using OPM to purchase property

[Leon Doucette]

Hi BP!

I have a meeting with a client I work with before. I'm looking to purchase the property using his money. Renovate with my HELOC at 3%. Rent out. Refinance in my name and take over the deed of the property. Once refinancing is done both of our capital would be paid back. My question is how do I protect my interest or structure the contract so I don't leave myself open if something should go wrong? Would like to hear more from investors using the BRRRR strategy with the purchase done with somebody else's money. What's a good percent of interest to offer the lender? How do you structure your agreements with the lender in regards to deed title of the property? Any stories any situations and any help would be greatly appreciated.