Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Partner is buying house in their name, & I'm doing all the work.
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.