Using a co-signer for an investment property
Hello everyone,
I have a question and hopefully I can get some advice on this.
I’m planning on buying a multifamily, 4 units. I’m using a co-signer because I’m not currently working, so obviously I can’t get a loan under my name right now. I do have good credit and the money for the down payment. I don’t know what to offer to the person who’s co-signing for me. Is 1% of the rent fair? That would be about $200-300 per month. Any advice would be greatly appreciated.
Most Popular Reply
I agree with these other guys. But to be honest, I just don't have enough trust in people to where I would do this for someone. You have one hell of a friend.