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Updated over 3 years ago on . Most recent reply
Short Term Rental - How to partner
Hi Everyone!
We are thinking of purchasing a short-term rental and I was wondering what your thoughts were on a partnership situation. I would be buying the property with my wife's cousin. She is responsible for financing and we would be splitting the costs 50/50. I work a 1099 commission-only position and she has a W2 job which would enable us to take advantage of a vacation home loan with only 10% down.
What do you think maybe the best route where we could split the risk of the loan 50/50 but also expenses and profits? LLC, Joint Venture, etc...
Thanks!
Most Popular Reply
Paul Sandhu
#4 Short-Term & Vacation Rental Discussions Contributor
#4 Short-Term & Vacation Rental Discussions Contributor
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- The worst town to live in, KS
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Paul Sandhu#4 Short-Term & Vacation Rental Discussions Contributor
#4 Short-Term & Vacation Rental Discussions Contributor
- Investor
- The worst town to live in, KS
it depends on a lot of things. But the most important thing is....
...Is your wife's cousin good looking?