You are preparing to give them $3,000/$6,000/or maybe $9,000 when they stop paying.

For your specific question about doing a JV on the loan, my suggestion would be that both go on the loan and then do a separate joint venture agreement...because you can not have an LLC on the loan for those loan types, they need to be in your personal names.I am not a lender so maybe one of my lender friends could chime on exactly this would work @Zack Karp, @Michael Facchini, or @Jose Valdovinos?

@Clare Pitcher we do 12+ month leases to avoid vacancies Nov-Feb.If we take over an occupied property, evict or have tenancy-abandon a property, we first let the owner know finding a tenant will take longer than "normal".This opens up owners to understanding they may need to:1) Offer 3D tour and floor plans to stand out2) Price more aggressively or be prepared for aggressive price reductions3) Offer MoveIn Specials:- NOTE: we do NOT recommend offering a month of free rent that can be used at MoveIn.

Some investors have found that working with the right team even in challenging markets can be a pleasant and profitable venture.  

For near term investors, be prepared for sizable down payments to reach a cash flow neutral stance no matter how far out you look in the suburbs.

. - You've got some pretty solid information above and concurrence that it shouldn't cost nearly as much as you thought, but on a separate note, I'd like to understand your situation a bit better.You are currently just looking for a Chicago property to purchase and asking the quit claim question in preparation for closing? 

I'm a very analytical person who won't start a new venture without first gaining a solid understanding, establishing the right framework and connections, and ensuring that I'm securing a great deal.

I want them to benefit from the success of our ventures and reap the rewards of their trust in me.

Or did joint ventures with people and next thing you know has $2M in judgments against them, which you can say deals go bad but still have not found someone who made money working with this person... meanwhile they sell $15k training courses.What I would say is the money is made from being a social media influencer.

Hello everyone,
I am currently working through a challenging financial situation. I have high-interest debt with a 28% APR that I need to pay off before focusing on saving for a home with my current income . To addre...