House Hacking Partnership

[Jacob Zivanovich]

Hey there,

I'm almost ready to purchase a house hack and have found some good deals right off the MLS. Trouble is that I don't yet have long-term employment in place (just moved to the area a month ago). I really want to make this happen, but I won't be qualified without that income. I have the reserves in place for the 5% down payment, 15K for emergencies, and have no debts!

I recently connected with a gal through a BP meetup and want to try and organize a partnership. I would provide the cash and backup reserves, I house hack one of the units, then she becomes the cosigner for me in order to be approved. In exchange, I'm thinking that she would collect all the cash flow and potential equity until I refinance and get the loan originated in my name... Is this a thing? Is this a equitable partnership?

Thank you!