How to form deals
I currently have one rental property and we are saving up to get another. We are approved, but not enough for the area we want to purchase in. I would like to get one sooner rather the later so I am trying to figure out how to form a deal with someone. My uncle and or dad would both be willing and then I have another friend at work who has said they would like to do something together.
Let's say that my dad wanted to do something, would we both go to bank and try getting loan in both of our names? Or would it have to be where he gave me cash? If it was the second one would I just pay him back the money he loan plus a percent increase? Just trying to wrap my brain around this!
My goal is single family home for rental. Thanks !!!