All Forum Posts by: Account Closed

I have a potential partner that is also looking to buy his first home. How could I structure a deal in which he is the tenant and partner?

Some of the advantages I see:
- We wouldn't need to put 20% down for a conventional investment loan.
- I may be able to capitalize on any first-time home buyer incentives he gets.
- I would trust the tenant.
- My partner would be conveniently located for updating the property.
- There would not be a rush to flip the property.

Questions:
- Would I be able to collect any monthly income, or would I have to wait for sale of the property?
- What type of contract should I put together to protect myself?

Thanks in advance!

- Blake

Bump this!

I have the same question.

Thanks for the tip Brandon Turner, I will definitely look into setting up Keyword Alerts. I'm starting to think that BP is going to be even more helpful than I had originally hoped.

Thanks for the quick replies, guys. Jon Klaus, I enjoyed reading your post about your first investment property...you really hit the ground running.

Marc Bodinger, I am interested in apartments, but I'm a bit tentative to start that aggressively in case I commit to a property that I can not unload if I had to. I am more interested in multi-family homes to start, so that I could fund the payments myself if I cannot find tenants or a buyer. The commercial construction market (day job) is a little slow right now because of the winter, but the investment market seems to be booming. Renters are having trouble finding any available units...which has me excited.

James Vermillion, Thanks for the words of encouragement. I should clarify that I am also interested in being a contributor to this site once I have anything to contribute (I don't want to seem like this is a one-way street).

Hey everyone, my name is Blake Kinsman. I am a project manager / estimator for a general contractor and I am also a certified home inspector. I have always had an interest in real estate, but I have just recently been consumed by it. I am currently reading every RE book and blog I can find, and I am ready to make my first move…although I am not sure what that move is yet. I’m hoping BP can provide me with guidance from people that are where I’d like to be and supply me with key contacts that I can benefit from in my career.

I have read several places that goal setting is crucial in this business, so I have set my goal to acquire (2) positive cash flowing properties in 2013!

I have enjoyed reading all of the posts already, so I am happy to be a part of it. Thanks in advance for your advice!