Forming a Partnership
So I have moved to Wisconsin from California and trying to get started buying properties. The challenge is that I have a bankruptcy and limited cash right now, but I have people in California who are looking at partnering with us to be the cash buyers while I find and manage the rehab and then manage the tenants. The question is if we are all on the title as Tenants in Common with equal ownership, what happens when it's time to refinance to pull the cash back out? Won't my credit issues get in the way or is another suggestion where we form a partnership but they hold the mortgage in their name? Any other suggestions on structuring a partnership where someone is the money and someone else is over-seeing the deal? Thanks in advance!