Partnership and House Hacking

[Dillon Taylor Lindsey]

Hi! This is my first time to post anything as I’m a complete newbie to the whole real estate investing world but very curious about it and how to get started in it. I’ve heard about house hacking and have thought about it, how awesome that’d be to not have to pay rent anymore! But im not exactly sure how to get started and so I had a thought…

If I couldn’t afford a down payment for, let’s say a duplex, on my own, but partnered with someone who could help me pay some of that, would it be reasonable and fair at all for me to live in that duplex, rent free (as long as someone else is renting the other half) and let my partner keep all the profit on it (if any is made)? I’m not sure how all of this works but I was just wondering if that would be a fair deal for both of us. I could live rent free, they get the profits and while I save more to invest, eventually I could invest in another property on my own (or with a partner again) and let my original partner either sell or rent out the duplex we bought together? Or if there’s a better way to do that please let me know and correct me if I’m thinking wrong about all this!! Thanks!