Updated over 2 years ago on . Most recent reply
Creative Loan financing
So my friend and I are planning to partner on an 800k property (my friend found the property). My friend doesn't have the money to go half and half, but I have the money to buy the property outright. I am thinking of two scenarios:
1. I just buy it, and let him manage the property and pay 10% of whatever fee (he doesn't like this route much).
2. Pay for it outright, but maintain the partnership, but I become the banker and charge him interest on the loan I give him (2% lower than the market)
What do you guys think? Please comment.