Need Advice on Partnership.

[Aline Elad]

Hello All,

I have a SFH property with about 500K in equity and a VERY low interest rate in an appreciating market. The property cash-flows at about $1200 after all expenses. However, I have to purchase a new home, which would require either selling the property or using a HELOC. I would prefer to avoid those options if possible. I just started considering a 3rd option, bringing in a partner for a 50% ownership. This partner would get "dividend" in form of rent and then 50% of the value of the property for a min holding period of 10years. Has anyone done something similar? TIA