*** Partners - First time buyer ***
I'm very excited and ready to make my first purchase. But first....
I have $35k at my personal disposal. I also have two good friends to partner up with. I am wondering how having partners works in this venture. Would I be primary and my partners contribute as secondary investors? How do repairs, etc. get deducted from the pool put in? I'm curious because we will not be putting equal money in. I'm also unsure about LLC's and pros and cons of it. I know there are good opportunities as a first time buyer with a good home occupied rates. I'm interested in a four family purchase. I'm a police officer and resident in central NJ and wondering about loan rates for officers? I have a credit score of 800. Not sure what else to add here but am very excited to get responses from this awesome community. I'm 37 and have a personal goal to meet in ten years time.