Updated over 5 years ago on . Most recent reply
Partnership good idea or am i being to generous
Hey Biggerpockets,
i currently have a 4 unit and a town house that i rent out. i am looking at buying a 3 unit and was thinking of partnering with a friend on this one. my question is does it make sence for me to partner with someone this early on in my real estate career? i just closed in the 4 unit in march and was thinking it would be better to have someone else get the loan under there name. i would be brining the bulk of the down payment and he will be paying me back his portion of the loan to be able to make the partnership 50/50. he has no prior experience and although i am not a pro by any mean have had rentals for about 8 years now. normally only 1 door at a time until recently. me putting down the down payment and having him pay me back is like lending him the down payment at 0% interest. so i know thats leaning on his side and helping him more then me. does having him put the loan in his name give me enough of a benefit to make since? i want to buy another place by the end of the year.