How to Invest with Family Members the Right Way with Saurabh Singhal

Partnering with a family member on a Joint Venture deal can be incredibly rewarding. Still, it’s not without risks, as not every relationship works out the same, especially regarding investment.
Therefore, it is important to treat your investment like a business and sign proper agreements.
In this week’s video, I have invited local real estate lawyer Saurabh Singhal to share some best practices for investing with family, including the most up-to-date market information on getting financing.
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If you have any questions or thoughts after watching this video, leave a comment below, and I’ll respond as soon as possible.
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[@MegaVarun555]

Amazing video..thank you both

[@anandlobo1685]

Very informative…great video…both of you’ll were superb

[@RealEstateTaxTips]

Thank you!

[@dinushaphotography9424]

The buyers wouldn’t get sued if you opt in for SUBJECT TO FINANCING. The lender will do the appraisal, and if the appraisal is lower than the purchase price, lender will decline your application. As long as the sellers realtor is informed of the rejection before SUBJECT TO FINANCING deadline you can back out of the deal without losing the deposit.

[@RealEstateTaxTips]

Appreciate your comment. In an extreme competitive market before the rate increase, it was impossible to put in financing condition and still win an offer. These buyers who got caught between policy changes were the one who's suffering the most. In today's market (somewhat more balanced market), of course you can put in financing condition and home inspection when you are putting an offer in.

[@dinushaphotography9424]

@@RealEstateTaxTips oh wow good to know. From what I’ve heard from lenders, it’s very important to include ‘subject to financing’, because you could lose the deposit, if the appraisal comes below market value, lender doesn’t approve on time, etc.

[@RealEstateTaxTips]

@@dinushaphotography9424 most experienced real estate investors would tell you that if you can have a financing condition in your offer to purchase a property, you would do it. But financing condition also forms part of negotiation strategy. There are people who are willing to take a firm offer (with no conditions) for $10K or $20K less over someone who has a conditional offer with financing inspection. These are different tools in your tool box when it comes down to real estate investing. All the best.