Partnering and raising money from family

[Max Biggar]

Hey BP, I have my investment capital tied up in a property I currently have under contract however I am about to get another deal under contract. My sister has capital saved up for investing and would like to supply the money for this new deal. Curious what your thoughts would be on how best to structure. 

The current deal I am financing with a home style reno loan at 15% down of the purchase price and rehab cost (haven't closed yet).

The new deal I found I don't have enough to get approved for another reno loan and don't want it to affect my other deal. I'm thinking of having my sister get the reno loan by herself and putting both our names on the title. Then when we sell it we would split the profit 50/50. (I found the deal and are coordinating the rehab and she provided the money). Haven't done this way before so not sure if it's possible or a good idea. Figured I'd run it by the smart people of BP!

Cheers!

[Max Biggar]

Thanks @John Wielgolinski thanks for your confidence. 

I'm wondering more so about any financing, title, or tax issues that may come up if both our names are on the purchase contract and title and then only her name on the loan. Is that a method other people have used to fund deals?

Thanks