Ideas for creating partnerships

[Sara Pierce]

Good afternoon,

A friend and I are wanting to create a partnership for investing, our strategy would focus on BRRRR with some flips as well.

We have very similar financial situations with similar cash available and creditworthiness. 

How have others structured their partnerships?

Also, what is the benefit of partnering in your opinions?  I know it helps to leverage your resources but it also would mean sharing in the profits.  I know we are both interesting in partnering regardless but I hoped to hear from others who have partners and how that has worked for them.

Thank you!