New Investor Partnering with a Seasoned Investor

[Andrew Pierson]

Hi BP,

I recently just partnered with a seasoned investor on a package deal that will include a single family and a duplex. My partner is helping me for the sole purpose of getting my foot through the door as he is also a contractor who can help me save some costs with fixing both places up. The relationship is good and all I need to do at the end is buy out his portion of the partnership at the end if I want to obtain 100% ownership. My question is these properties are off-market and my thought process was to buy with cash than refinance but my partner is looking for me to get a mortgage on it. What would be the best approach through a mortgage for two properties located in the same town for someone like me who doesn't currently own any yet at the moment.