Been looking for this topic have not found discussion on it…if out there please point me to it. Any thoughts otherwise are appreciated.
Looking for any experience in the best way to offer security to a private money partner who technically is in second position. Example: Purchase price $120K, ARV $150K. Financed with 80% LTV in first, getting $5K from private money partner for a no cash out of pocket deal.
Any thoughts on the best way to secure him in this scenario - putting him in second position is not an option as it is not really secure - putting him on title, some sort of LLC structure, etc.
Many thanks.