Updated about 4 years ago on .
Is a partnership the best option in this case?
Hi, there is an area I want to invest in that has low ARV values but high rental income. This would be my first property and I am looking into creative ways to make it work. The monthly cash flow is well over 2,000/month with mortgage, rehab, and miscellaneous expenses factored in. But I can't cover rehab costs due to me not being able to pay off rehab loans with a refinance. Would a partnership be the most viable option here? And if so, what is the recommended approach when looking for a partner to cover rehab costs while I would cover the rest including the mortgage, property management, and rehab work? Would a long-distance partner make the most sense in this situation? And how would you go about approaching a long-distance investor for a partnership?