Partner has a job but I dont

[Paul Vu]

My dad and my aunt wants to invest in a 4 plex in Dallas TX together. However, my dad is retired and does not have any income. My aunt will easily qualify for the loan with her income. How can they get the property together?

[Constance Grandelli]

If Auntie can qualify for the whole amount, they could make an agreement between the two of them for his  part of the mortgage payment.  It would be similar to owner financing in that respect.  Have an attorney draw up the documents.  Also, they would need to outline for the partnership, who is resposible for what.