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Updated almost 9 years ago on . Most recent reply

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Nate Sanow
  • I​nvestor & Agent
  • Tulsa, OK
1,160
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How to finance while creating a partnership with my bro

Nate Sanow
  • I​nvestor & Agent
  • Tulsa, OK
Posted

hi there, 

I am looking at getting the ball rolling on my first deal. My brother in law is very eager to be involved. Here is our scenario which I will follow with a question:

I have some decent savings probably enough for a down payment on a deal.

He has more even more cash.  However he is a pro basketball player in Europe, which potentially makes proving his income a bit tricky, as he gets paid in Euro etc.

How do we best find funding? Is a co-sign a viable option? Or is it best to personally buy a home to flip and simply let him pay for the remodel? 

Thanks!

Most Popular Reply

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Percy N.
  • Developer
  • Philadelphia, PA
900
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2,067
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Percy N.
  • Developer
  • Philadelphia, PA
Replied

Nate Sanow you could create a US based LLC in which you both purchase units.

Buy the property in the LLC for cash or get funding via a portfolio lender. Make sure you understand financing terms for the LLC.

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