All Forum Posts by: Justin Skiles

Good questions @Charles Carillo, and my motivation with him using it as a primary is the fact that I will be able to put 3.5% down since it will be his primary versus 20% if I finance it as an investment.  I do trust this partner very much and feel very comfortable that the outcome will be good no matter how the deal runs because of our relationship.  I was considering a 50/50 partnership minus any money invested into the intial purchase or for renovations.  Those would be paid back dollar for dollar.  Since he doesn't have the capital, but the skills, this gives him entry into this space and seems low risk for me considering if all goes south, I wouldn't lose much.  I hope this helps to paint a better picture.

-Justin

Hi Folks! 

I am considering a partnership with a young construction worker I trust.  He would take out the loan on a multi-family and I would provide the funds for closing and reno as he lives there for 2 years.  Has anyone done this type of arrangement before?  Outside of the normal partnership risks, what other risks am I overlooking?  I was thinking this could be a good strategy to scale and keep costs managable.  Thanks in advance for any and all advice!

-Justin