All Forum Posts by: Rod Merriweather

@Olivier Colson, One of the best things you can do to leverage up will be to partner with your children. Do 1031 exchanges into small multi family properties (4 units or less conventional financing). Your child will apply for conventional primary residence financing. Your guaranteeing the loan and providing the down payment from the 1031.

Do this where they'll be going to college. These are called kiddie condos. Your child gets a place to live and you get favorable rates. The 1031 floats the down payment. And the rents on the other units provide great cash flow. And best of all that child of yours is getting a better education in real world managing the property than they are in class.

Partnering with your children can be an awesome!!! experience.

Can your child apply for conventional financing- if the don’t have income? Even if I’m guaranteeing the loan?

0 Votes

Upstate New York, New York

Hi I’m new to Bigger Pockets. I love your post. I’m a smaller investor ( 4 properties- 2 long term, 1 short term, & personal home with lots of equity). 800+ credit score & good income.

I’m trying to find out how to keep buying properties without continuously putting down 20% of my own money? How did you do it?

Yes, my properties have a lot of equity, but all my interest rates are between 2.8 - 4%. I can only get a HELOC on my personal home, investment property doesn't qualify.

0 Votes

Upstate New York, New York

Hi I’m a new investor. I have 2 LT rentals, one short term rental & my personal property-has a good bit of equity. (4 properties total) 800+ credit score & good income.

I’m looking to get in the commercial space but I’m tired of putting down 20% cash every time I find an opportunity. I’m hoping to learn other ways to not use all my cash- to scale to the next level. My dream is to purchase a (10+ unit) in the next year or two. Looking for tangible advice to help me get there without using all my cash if possible???

1 Vote

Memphis, Tennessee

All Forum Posts by: Rod Merriweather

Rod Merriweather has started 3 posts and replied 13 times.

Post: Real Estate Growth strategy - need advise

Post: Real Estate Growth strategy - need advise

Post: New to Commercial Lending- Advice Needed