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Updated over 4 years ago on . Most recent reply

User Stats

8
Posts
3
Votes
Javier Melendez
  • Fort Lauderdale, FL
3
Votes |
8
Posts

Someone wants to use my Credit to purchase an investment property

Javier Melendez
  • Fort Lauderdale, FL
Posted

I am planning to get out of the Military early 2022. However, before then I would like to purchase two homes. One using my VA loan and the other using my wife's FHA loan. Now as of very recently I had someone approach me and ask to me to purchase an investment property using my name (Credit). I am interested because I would love to get involved in the game already but not sure what I can offer. I believe I have the upper hand here since the property would be under my name and I know I can get pre-approved based on my income and the other necessary requirements. I guess what I want to know is what I can offer.

IE: Use my credit you put the down payment/ Use my credit I put a smaller percentage down he puts the higher percentage and split all housing repairs 50/50 or Use my credit 50/50 down payment 20/80 on housing repairs. 

Thank you all in advance!!

Most Popular Reply

User Stats

869
Posts
920
Votes
George W.
  • Investor
  • New Jersey
920
Votes |
869
Posts
George W.
  • Investor
  • New Jersey
Replied

Sounds kind of sketchy, personally I wouldnt partner up with someone who's got bad credit. Theres a reason banks wont lend to them. 

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