Updated almost 4 years ago on . Most recent reply
Partnering on a house hack
Hello, wanted to ask the community for thoughts on if this scenario is possible. A partner of mine is intending to do their first house hack (in TX if that helps). We were discussing the potential of a partnership but I am wondering now if it is possible for him to secure owner-occupied financing for a multi-family while placing me on the title and us having an operating agreement dictating the rules of our partnership? Is it possible to secure FHA or conventional financing under his name alone but still allow him to place me on the title? Also, for tax purposes, if I am not on the mortgage but am only on the title, would my share of income be treated as taxable if we were to set it up this way? Any info on this would be appreciated!