Real Estate Question

jorgefreeman

Hello, I have a question regarding the structuring of a home loan for a rental and who would claim the gains/losses. My brother has a lot of money saved up but not so great credit so I would be the primary of the loan and he would be the co-signer is what the bank has told me we could do. We would both be on the deed and he would pay for 100% of the home's expenses property for sale in philadelphia, essentially all the responsibility of the home would be his. Do I need to have a partnership set up as an LP and GP, I would prefer to stay away from that if possible due to the obvious additional costs but if that’s how it needs to be done then so be it and then how would the sale of that look once he is able to refinance the property into his name only?

DeidraMonika34

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