How much percentage ownership should I have?
Hi! New member here. I had a question and wanted to gauge the community here. My friend, who I have been flipping homes with for the past 5 years, wants to buy a rental property. The situation is that he will provide the downpayment while I sign on to the mortgage since my income and credit meets the mortgage. I don't have any cash stakes in this deal. Just that the mortgage will be under my name. My friend will take care of everything else. However, we are agreeing that I will still have a percentage ownership in the home since I will have the risk of holding the mortgage under my name.
My question is this: what is a fair percentage that I should propose given that I will be holding the mortgage but no cash investment? If you can justify your response, that would be awesome. Thanks in advance everyone!