Hi All!
/*background & request*/
I have a scenario
between 2 people below (James & Tina) and I'd like to get advice/ideas from
the group on how would you structure this agreement if you were James! Keep in mind both James & Tina really wants to make this work & Tina trust James to structure the agreement and not take advantage of her to where it's not fair for both parties.
For example) rent
split %, who pays for repairs if needed, who get's to be on title, if/how
proceeds from sale of property is split, anything else i'm not thinking of.
/*scenario*/
James - great
credit; want's another investment property at 20% down but only as 10%; would
like Tina as a tenant
Tina - really poor
credit, can't get loan approval & can't afford market rate rents; but has
to get out of current housing situation asap; has 10% down on investment
properties James would want; would like to become a tenant of James's
investment property. Not concerned about making money but would.
/*request again*/
What would you do if you were James?
