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Updated almost 5 years ago,

User Stats

6
Posts
13
Votes
Robert Abasolo
Pro Member
  • Investor
  • Houston, TX
13
Votes |
6
Posts

Partner is buying house in their name, & I'm doing all the work.

Robert Abasolo
Pro Member
  • Investor
  • Houston, TX
Posted

Hello BP Fam!

This is my post here and I hope you can help.

I currently have 3 deals in the works with different partners. 

The deal: The partner fronts the 10% downpayment, puts the loan in their name and fronts the cash for the furnishings. In return, I will set-up and run the house as a short-term rental(my specialty). All profits will be paid to the partner until their initial investment is fully repaid. Once they are repaid, all profits will be split 50/50.

My question: Is there a way for us to draw up a contract that makes me a 50% owner, and equally liable for the debt? I can't be on the loan due to a high DTI.

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