Does having a partner in real estate investing complicate matters?
I am new to real estate investing and I just refinanced my home to get a rental or flip a home. I have my eye on a triplex and I am wondering how to structure a deal since a buddy of mine will be my partner in this project. He’s willing to shoulder the majority of the capital while I plan to use financing as leverage. Does having a partner complicate things? by irving718 from Richmond, Indiana. Mar 2nd 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Maybe, maybe not... From the lender standpoint, we will review all applicants, all jobs, all debt, all credit. We will use the middle credit score of the lowest person to determine programs and interest rates, Is the other person needed? Do the help or hurt? From the joint ownership side, have you discussed exact partnership roles, profit sharing, etc. Good luck. I lend in MN, WI IA, ND, SD. Find me at FirstTimeHomeBuyer-MN.com - Cambria Mortgage, NMLS 274132
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