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Investment Properties in 94544 : Real Estate Advice

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Tue May 12, 2015
answered:
All 3 of you would need to go on the loan, because you cannot receive a gift for the down payment on an investment property. So as far as the interest rate goes, it would be based off the LOWEST of the credit scores between the 3 of you. Between you 3, you might want to draft up some sort of ownership agreement to specify who is entitle to what. Talk to a CPA or attorney for this. I believe this agreement could also dictate who is responsible for what and how all taxes would be split.

But even though everyone trusts one another you should still have a lawyer draw up an agreement. Better safe then sorry, because a lot of friendships and marriages are tested when there are large amounts of money involved.

Good luck!
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