Bank Loan with someone else credit
Hello.
I have bought a single family rental last year and deed it under a LLC. I have a 50% private financing on it for 12%.
I am still building my credit rating. I would like to explore if I can partner with a friend who has good credit rating to get a conventional bank loan.
I can structure it for a 50-50 if she would put in some capital as well while I do all the management.
However, if she is not keen on investing in real estate but is willing to let me do loans using her credit, how can I structure this? What are the typical incentive that I can give her? What sort of risk is there besides wreaking her credit rating?
Thanks
Clara