Financing a Syndication Deal

[Michael Putman]

Looking for advice...

I found a great deal and a partner who is willing to fund the down payment and apply for the mortgage of a 30 unit complex.

However, if I create an LLC and place the property underneath it will both owners have to apply for the mortgage loan?

My credit is not that good so how can I receive a % of the property without have to go through the mortgage process on my end?

My responsibility will hire the contractors, oversee the property manager, as well as stabilize via rent increase.

Any advice how I should structure this deal as well? How much stake should I get of the asset as well as after the refinancing?