I am seeking advice about a structuring a deal with a money partner who would provide 20%deposit for property using a Line of Credit established from home equity.
Structure: Win/Win 50/50 If they provide the equity, would the balance loan be in my name? If this is the case whose name would appear on the Title or can the Title have both names? When it comes to paying off the interest only loan would it be fair to split the rental income 80/20 according to $ put into deal.
Any advice in structuring joint ventures would be would be greatly appreciated! Or If you could refer me to a JV specialist. Thanks
The loan would need to be in the same names as the title. You could both be on the title and just have an agreement to borrow the money for the deposit off you friend, or you could go on the title alone and then have a side agreement with your friend. – But you would be taking all the risk.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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