Buying first property with a investor
So my wife and I are looking to buy our first property. The market we are in is expensive.
We plan on living in the home for 2 years, and then cash out refinance. Then use that money to do another deal. We would then rent out the first property.
We have someone that would be willing to invest and help us get started. They would be putting up about a 1/4 of the price for the property.
I write up a plan and I'm curious about when the investor would see their ROI. I ask this because we plan to use the cash from the refi to be at least the next down payment.
While I’m here, if we planning to sell the house. It was suggested to us to offer the investor 8% of the equity of the home. Is this a good number?
Any advice would be welcome about a deal like this