Updated about 12 years ago on . Most recent reply
Rental 2-family
We are closing on a 2-family house that was REO , for 160k with 20% down. It is a good deal and similar homes were listed at least a 50K above. Another investor is offering a 20% investment . Says he will put 25Kof his money , as well as live in one of the rental units -the bigger one. He says that way the property will be well maintained and no headaches of renting it out etc. What is the best thing to do ? We searched a long time for this deal and it is our first investment . Is it worth taking on a partner for resons mentioned above? Your 2 cents is appreciated