I'm looking to begin investing in properties with a friend because with our combined capital we believe we can afford to do so. I plan to apply for a personal mortgage and transfer that to our LLC once established. The question is, how do i show the lender that we have the total assets needed to cover the down payment when i will be acquiring some of it from my partner? Does he have to transfer me the money before i go in to show that i have the balance present in my accounts? Thanks!
@Jay Chopra could you please clarify what you mean by 'Gap funding partner' and share what kind of terms come with the refi exit strategy? This debt investing with guaranteed % returns upon the financing or equity sharing? Thx, Troy