All Forum Posts by: Aaron Barrett
Aaron Barrett has started 19 posts and replied 39 times.
Post: Down Payment From Family

- Iola, WI
- Posts 42
- Votes 7
I have a deal lined up to buy a duplex in Wisconsin. My parents own a few rental properties that are paid off and we are interested in taking out a HELOC on one of their properties and using it to fund the down payment on my deal. I would then use cash flow to pay their HELOC payments until we are squared up. I understand they can't gift it to me, so can they come on as investors instead since it is not a gift?
Post: Loaning Down payment

- Iola, WI
- Posts 42
- Votes 7
I have a deal lined up to buy a duplex in Wisconsin. My parents own a few rental properties that are paid off and we are interested in taking out a HELOC on one of their properties and using it to fund the down payment on my deal. I would then use cash flow to pay their HELOC payments until we are squared up. I understand they can't gift it to me, so can they come on as investors instead since it is not a gift?
Thanks for the advice everyone!
I am looking at purchasing a property that is a tri-plex to buy and hold. It is listed at $31k. I plan on offering $25k although it will take approx. $45k in improvements before it is move in ready. Will my 20% down payment for financing only be based on the sale price of the house or improvements as well?
My mother is nearing the end of her working life and wants out of her 3 investment properties. I want to began my investing career at this time. Ideally I would like to have the properties transferred to me and I would return an income stream off the cash flow to her to pay her back for the properties. That being said, I won't follow that method if the gifting of the properties to me would have a large negative impact on her taxes. Thoughts? Location is Wisconsin
Post: Transferring/gifting property

- Iola, WI
- Posts 42
- Votes 7