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Updated over 9 years ago on . Most recent reply

User Stats

17
Posts
2
Votes
Vincent Matraxia
  • Lyndhurst, NJ
2
Votes |
17
Posts

3 unit building with partner who does not not qualified for financing

Vincent Matraxia
  • Lyndhurst, NJ
Posted
I need advice on buying a 3 unit in Florida with a partner. I have the credit for the financing I don't have enough for the down payment and rehab. So I'm thinking of taking on a partner who has the cash but does not have good enough credit or job to be apart of the financing ,he has sufficient cash on hand for his half of the deal. How do I go about getting fiancé if I'm the only one on the loan but he is on half the property? The prop would be in an Llc with both our names but I'm thinking I would only be on the lone and I'm not comfortable with that. Any advice?

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