How to structure a partnership where only one party carries loan?

[Tayler Griego]

Hi BP friends!

My question of the day is what would someone need to get out a deal in order to carry the loan?

I’ve come up on an opportunity for a partnership where I am the party that can qualify for a loan and the second party has cash on hand for down payment and any rehab costs.

A little more detail about the situation... I currently am house hacking a duplex that was a solo investment. Looking to acquire another primary residence and move out of the duplex (75% of duplex cash flow covers mortgage). I am saving up for a down payment on second property but have a close friend interested in partnering that may accelerate the process through a JV of some kind. Her interest in doing this is to move out of the apartment she's renting and put her money to work. We would house hack the next place and be roommates. She has no real interest in handling anything landlord related all work would be on me as far as that front goes.

Never done this before so looking to hear more about deal structure and how to actually quantify the cost of carrying the loan.

Thank you in advance for reading!