Updated about 4 years ago on . Most recent reply
First Multifamily Property
Hello BP family! I am 22 years old and new to the investment world. Although I have taken several real-estate courses and gained a great amount of knowledge there are still some things I am unsure of. I have been saving my money and building my credit and I Have interests in several properties with listing prices of 300,000. These properties need very few renovations and are for the most part move in ready. My Brother has recently showed interests in the turnaround this could bring and has offered to put up a share for the initial down payment. My question is, How should I structure a formal partnership so that I am making my partners investment worth it while at the same time not hindering my NOI for the duration of the mortgage? I have seen layouts as far as a 30/50/50 split but that doesn't feel like it would benefit me as much as it would him with the use of this FHA loan and the low down payment.