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.