Is this a good idea?

[Victor Wheby]

So my idea is to have an investor cosign with me in exchange for the cash flow from the house. For example if I get a 5 bedroom house that cost $300,000 and the mortgage is $1,500 a month. I live in 1 room and rent out the other rooms for 550 each for a total of $2,200 and splitting the utilities between the people in each room. Allowing me to save up so the next year I can then put a down payment on a another house. The cashflow of $700 would be given to the person that cosigned for me for a year. Making that person $8,400 in year just for me getting there cosign. I feel like that's a good deal. I've heard on bigger pckets you gotta find a way to make the deal work. That theres always gonna be excuses not to get started and I think this could be my way of getting in :/ just not sure if it's really a good idea or from the POV of an investor would it be worth it for them?

[Joe Villeneuve]

Originally posted by @Victor Wheby:

Also, then if years later I wanted them out of the deal, what would I do? Buy their share? Or refinance only in my name?

 Either way works, but you need to have the process and the terms for buyout spelled out in the original partnership agreement