How to: where one partner on a deal brings conventional financing
I was wondering how do you execute a deal, where two investors partner on a buy and hold, and one partner who is financiable brings a conventional mortgage. It seems to me I read about this strategy in Brandon Turner's Book Investing in Real Estate with Low and No Money Down. It's in the execution that I need clarity. Do the two partners put a JV agreement together, and then one person buys with conventional in his name, and then both partner's LLC's are added to title via a warranty deed and/or quit claim after the fact? My attorney says this is flirting with mortgage fraud. Definitely want to steer clear of that, so how does one execute this type of deal?