All Forum Posts by: Bryon Andrews

Hello I am looking for advice on how to best finance the down payment of our new permanent residence we are shopping for. We plan to rent our current house and use it as our 1st rental investment. We have 70% of a new 20% down payment saved for our new home and $100k in equity from the house we live in now we could potentially use. Given interest rates are above 7%, What do you recommend the best way to finance our new home would be? I get a little confused on the pros & cons of the varios options (save & use all the down payment in cash, vs HELOC vs home line of credit). Thank you for your advice!

Hi my name is Brett. I currently own a home that I live in with my family of 3, we have about $80k in equity and our mortgage rate is fixed at 2.62%. I have about $20k I could put into a deal myself of my own money. With only $20k down that doesn’t seem like a large enough amount to go into a deal expecting to cash flow in this market. So my idea was to find a partner to avoid taking out equity.

I have a friend who has been looking to purchase a home but he has been getting cold feet. My goal is to present him with a 50/50 partnership on a small multi family or single family home that he himself will be living in. My benefits being that I have someone occupying one of the units before we even find a deal and we both benefit by adding twice as much money to a down payment on a property.

Now here’s what I’m struggling with. If we were to do that, how would you recommend handling his unit’s payment? On top of that, what does it look like with everything outside of “rent”? Utilities? Parking? Snow removal/lawn care if we went small multi family? Since we are partners and he owns half, would his unit still be expected to pay market rate rent? What would be the best way to go about properly dividing our finances to have a true 50/50 partnership? I want to approach him with a sound business plan that makes sense before we start looking at properties together. Thanks for taking my question.

Hi there, 

I own an LLC that was registered in 2021, and I have a strong business credit history. I'm interested in exploring the possibility of obtaining an SBA loan or a similar financial assistance program. Currently, I'm juggling a W2 job that I'm not passionate about and my desire is to transition into full-time self-employment.

Recently, I've been researching businesses for sale on platforms like LoopNet, including options like car washes, laundromats, cleaning services, and senior living care. I'm considering taking out a loan to invest in one of these ventures. Additionally, I've come across some franchise opportunities that have piqued my interest, and I'm contemplating exploring those options as well.

I would greatly appreciate any insights or advice from someone experienced in these matters. 

Thank you.

Georgina Graham 

I have an owner-occupied duplex (100 yr old structure). Great tenants *knocks on wood*. I am stretched past capacity as a full-time working single mom to a young child. If I had one less major responsibility, I'd be fine keeping up on all the property maintenance myself, but I am maxed out. I am wondering if hiring a property manager would be helpful as an ally/advisor in keeping this building in good repair. This is the first time I've considered it, and appreciate any input on what to look for in a company or PM, reasonable cost, or other considerations as I think about this as an option. Thanks all!!  

Hi I'm an investor friendly real estate professional in the Minneapolis/St Paul metro area.