STR buyout an for existing partner and assuming the loan.

[Roddy Walker]

I own an STR in Salem Oregon that produced $75k this year while being active for 9 months. The home was $550,000 and it was financed by partner. We've decided to part ways but I'm unable to assume the loan because I don't qualify for another FHA loan and my creditworthiness isn't the best at the moment. I'm seeking a partner who can provide the capital to buyout my current partner and assume the loan. There are many ways to structure the deal and we are open to negotiation.

The property is a unique 3 story home. It is 4100 sqft plus. It has 5 rooms and a bonus room that could easily be converted into another two rooms. It also has two living rooms and two kitchens.