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Updated over 7 years ago on . Most recent reply

Selling a half interest- bad idea?
I have a cash flowing rental property that has all my money tied up in it. It is a good rental, but I am not good at the patient game until I can save for another downpayment. Would anyone want to buy a half interest? For example, the I sell the property to an llc consisting of me and someone else. The main drawback would of course be the closing costs, but if the buyer and seller as well as terms are already decided, I know an agent that would facilitate for 1% of the purchase price. Thoughts?