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Updated almost 6 years ago on . Most recent reply

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Juan Carlos Castillo
  • Specialist
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Partnering for First Property

Juan Carlos Castillo
  • Specialist
Posted

So my sister and I want to jump into real estate and are looking into the Birmingham area for our first purchase. The reason for this is because running some napkin numbers it appears to cash-flow way better than anything in Florida (which doesn't really at all).

My question is as far as getting a loan goes, how difficult would that process be to accomplish with two people? Should we look into forming a partnership? We have the 20% down payment and both hold steady jobs with no debt. 

Thanks,

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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
Replied

I doubt it would be difficult at all. Just put EVERYTHING in WRITING. You need an agreement IN WRITING between the two of you. 

  • Nicole Heasley Beitenman
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