Updated about 9 years ago on .
Brother as an Equity partner?? Need advise
Im currently house hacking a home near Indiana University that sits on 3 lots (paid cash). Im looking to get an FHA loan with 3.5 down on a 4plex in Chicago or NWI but my credit score is only in the upper 400s at the moment.
My brother asked to partner with me on a future deal after seeing me stop renting and become a home owner in 5 months. He is a Semi Truck Driver with steady income. Im a small business owner with less than 2 years of tax returns to show income.
My question is how can I go about using my brother's credit score & proof of steady income to get us into the 4unit and me not be Exed out of the equation all together with me being the person that is actually getting into realestate investing.
Anyone got some info or story on how they've strutred this type of situation?