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Partnering for an auction purchase

Posted by todd-wa on July 12, 2001 at 9:42 AM

I would like to partner with a person to bid on a house that will be going to auction. we are each putting up money. She wants to keep it as a rental and I would like my profit out asap if we get it.
There is a good chance that someone may outbid us or other reasons we may not get it.

What would be a good way to partner to keep the costs down before the auction but cover each of our interests and to get our money back out if we don't get it?


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