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Updated almost 14 years ago,
Privately funded down payment
I have a coworker that have 40k in bank to buy his first home next year. The other day I was telling him about investing with me which he opens to. Therefore I am looking for advice on how to present him the investment opportunity. I have a 4plex that I put an offer for 185k. I figure to use his cash for downpayment. I have 10k that I can bring along just for any unexpected circumtances.
Goal buy and hold
income: $2100 ( incl 7% vacancy rate)
expenses: PITI------- $1200Please help me on structuring the offer to him. Thanks