Housing

[Justin H.]

Question - what would you say is the best way to go about this situation.

Long story short -

Me - Have cash, commission job, can't loan qualify

Partner - Has no cash, Salary Job, can qualify us for a loan.

Basically I am simply using him for his ability to get a loan.

$165,000 house. I am putting up the 10% down + closing - call it $20,000.

How would you structure this deal to ensure both sides win and are happy -- simply put, I need him to qualify us, otherwise I won't get the deal done.

[Account Closed]

What kind of deal is this? Who is doing the work? Did you mean business partner or "partner"? I'll assume the former, unlike @Bill Gulley ...

You are putting up $20k cash, he bears the financial risk if the deal goes south...all else equal, I'd say a fair profit split would be 70/30 or 60/40 in your favor since you have skin in the game and his risk is contingent.