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Creative Real Estate Financing

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Justin H.
  • Investor
  • Toronto, Ontario
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148
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Housing

Justin H.
  • Investor
  • Toronto, Ontario
Posted Apr 24 2014, 11:36

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.

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