Partnership (parter brings down payment)

[Connor Deneen]

Got a question for the BP community. How do I do this legally?

Say there is a multifamily property that is a good deal, and I’d like to buy it but don’t have all the cash needed for the down payment (large property). If there is a private investor that wants to partner by putting up the whole down payment, and have me pay them back over time, how does one structure that to avoid illegal silent mortgages.

Partnership where both parties have ownership like an LLC? Or is there a way to structure an agreement with a bank and the investor so that I pay both loans off at the same time?

Thanks in advance for the advice.