Partnership Rental Property Investment

[Oluwakemi Oyebade]

Please can anyone in the house advise how a partnership business can buy a new rental property in the partnership business for the first time. Note that the business has not transact any business before; a newly registered business to be buying rental properties.

Please advise

'Kemi

[Oluwakemi Oyebade]

Quote from @Mohammed Rahman:

Hey @Oluwakemi Oyebade - if it's your first time investing in property or buying property together you may want to just both cosign on the loan and purchase that way. 

Unless your question was just around how to show ownership by both partners, the above comment is accurate. Form an LLC or partnership, and ensure the % split is accurate and to your liking - and then put the property under the LLC's name.

 Thank you so much Mohammed, 

We already formed the partnership and we want to buy the property in the partnership name. We have approached two banks, they said they dont finance mortgage loan for partnership. Any way out?