Working with a partner

[Tyler Case]

So I have done a fix and flip with two even split partners before however they were a family and a friend so it made it really easy (in my case) to work together and get the project done. However they more or less just wanted to do it for that extra buck in their account where I wanted to take my portion and start utilizing it for more investments. We made a decent bit each however in the western suburbs of Chicago it only cover either down payment or rehab costs, not both nor a turnkey house if looking at a rental which is what I would hope to do with it. I however have no idea how to go about structuring a deal that would work for both the investor and myself for something like that. So I guess my question is what are ways to find a deal that benefits both parties on a rental property/ would make someone want to invest with me?

[John Warren]

@Tyler Case you would need to be in a deal for the long term on a rental where you have a 3-5 year hold period. Typically, the process is the same at the front end in that you need to find something that has some sort of value add or distress so there is some upside. What a lot of operators do, is find a property where the partner puts up more of the cash and they do more of the work. They then split the equity in a way that pays the boots on the ground partner back.