Partnering w/ Good Credit - Atlanta Ga - Posted by goodie

Posted by Brent_IL on February 23, 2002 at 23:08:24:

When your credit and/or income aren?t high enough to refi the exit strategy is to sell your interest to someone who can.

Partners are expensive.

Why not get a property under contract at a deep discount off FMV and flip the contract to your friend, who would in turn sell to a semi-retail buyer. You may have to guide him through the process.

You make your money from his purchase, and he makes some money from his resale. You want him to divest instead of holding so you can use him again and again.

Partnering w/ Good Credit - Atlanta Ga - Posted by goodie

Posted by goodie on February 23, 2002 at 16:30:19:

I’m an investor in Atlanta and I have a friend with a 700 credit score who desperately wants to get into RE investing.
My credit is poor (450 score) but I’m able to buy property using hard money lenders all day long. The problem I have is getting out of the deals (refi) because of my credit. I’ haven’t bought aproerty in awhile because I haven’t been able to find an exit strategy.
How do I get my friend involved partnered with me to do deals ?

thanks