I'll bet there's someone else in a similar situation to yours who needs a partner for one reason or another.

If the loan is owned by a fund (For example our fund buys defaulted mortgages), then we are more apt to do a workout than a traditional lender, but its a restructuring of the loan.For the borrower, their best bet is to file bankruptcy.

@Sean Reid Your market is wildly different than mine but from my prospective you're loosely following a house hack strategy.

Feel free to connect and we can discuss strategies that might align with your vision. 

I understand the buy-and-hold strategy, but that is not what I am looking to do with this house.Have you worked with a wholesaler?

Just make sure the terms in the JV are clear: responsibilities, terms for profit taking, exit strategy if applicable, etc. 

After that, investors can use advanced strategies such as optimally structuring loan terms such as prepayment penalties, adjustable rate options, and borrowing entities to tailor DSCR loans to their specific investing needs.DSCR loans are typically the best option for investors ready to scale, and first-time investors are usually better suited for conventional financing, which typically have slightly lower rates.

Please draw up a formal partnership agreement between the 3 of you that has a couple of exit strategies for things like what happens if one of you needs to liquidate their portion of the asset and the other two don’t want to sell.

Real Estate wise:My number one goal is to streamline my company to run more efficiently - keep consistent records, analyze properties on an individual basis and the company as a whole, tax strategies etc Secondly I'd like to add 1-2 more properties this year - as long as the numbers work - not really pushing to add anything this year though Thirdly - come up with a strategy and implement it so that I can scale going forward.

Keep in mind there are many experienced investors here and their strategy might not be the best for you starting out.