All Forum Posts by: Jeremiah Ashe

I have entered into a few partnerships in the short amount of time I have been investing. The main way I structure my deals is with the passive investor paying the down payment and being the loan guarantor. Cash flow is split 50%, expenses are split 50%, and when we sell he gets his down payment back first after the loan is paid. Then all profit is split 50%. You could also consider asking them to be a private money lender. You can pay an 8-10% return on their investment and you keep 100% of equity and cash flow. Use the cash flow to pay them. When the loan is paid, you keep the property!

Thank you in advance for any advice! I have a family member that would like to give me their home, with their equity, and would like for me to take over their mortgage. I have never done something like this before and I am unsure on how to proceed. My plan was to speak with the lender and a title company and see what needs to be done, but when I spoke to the title company they told me that it was not possible to do this. I was told that I would need to buy the house from them with my own loan or qualify with the current lender and get a loan from them. My family member is willing to keep the loan in their name and guarantee the loan, but have me pay it. Would it be possible to have them add me to the deed or maybe place it in the name of an LLC that I own? I plan to use the home as a rental property and pay the loan with the rental income. I guess I was wondering if this is something that would be possible. I would need to update the home and make some repairs. While I completely trust this family member, I would feel more comfortable with the home in my name. Thank you again for any advice you can offer!