How to use someone else's credit to purchase property?

How to use someone else's credit to purchase property?

Hi everyone, I haven't been here in a while but I still like to learn about real estate in my spare time, so I started reading "Be A Real Estate Millionaire" again and decided I'd come here for help, since everyone here seems to be so helpful on this site as I remember.

My question is how would the whole process of using someone else's credit to purchase a property work? The story on page 214 with John and Vickie where they use a partner's money and credit to get them started. How would they purchase the property? Would they take ownership of the property themselves and the partner gets the loan for them to buy it? Or would the partner take ownership and purchase the property and then the partner lets them do all the renovations and selling of the property?

A good detailed answer would be highly appreciated and may just help me get started in this Real Estate adventure, thanks.


"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"

- wrecklessKane

Syndicate content