Leveraging FTHB Eligibility in a partnership
I will be a first time homebuyer this year. I am wondering if anyone has ever leveraged the 3% down payment as a way to partner with an investor. I would still occupy the residence as my primary, but I would operate the property as an a rental. Would allow an investor to acquire a property for only 3% down.
My thinking is that I don't have a huge down payment available, so by bringing in a partner with additional capital, I could acquire a more valuable property that may cash flow better.
How would you negotiate a deal so both myself and an investor would be satisfied?
Should I even consider doing something like this or should I just try to acquire the property on my own?