Partnership with a foreigner

[Enzo Pazos]

Hello Everyone!

I have a question regarding a possible partnership (LLC) I want to do with a friend from Argentina. I live in the US and already bought a property, my credit score is good and I meet all the requirements to buy another. My friend,on the other hand, has the funds but not credit history in the US (he lives in Argentina). The idea would be to buy a SFH with a conventional loan and a low down payment (5% ish since I will be moving there). After the closing, we would transfer the property (under my name) to our LLC USING A QUITCLAIM.

What do you guys think? Is it possible? Have you done something like that before?

THANK YOU!