Partners

[Arturo Cooks]

I currently do not have enough established credit for bank financing, I met a local investor willing to do a lease purchase agreement for several of his properties.

While having a conversation with my dentist, he said he was looking to also get into real estate investing and would be open to partnering. He's more establish, he would finance the deals and I would handle the property management. Has anyone had any experience with a partnership as such? Is this the best way to do this? Is an LLC required?

[Curt Davis]

I dont like the sound of you and your dentists potential arrangement.  He would be the sole owner and make the cash flow and you would only make the monthly property management fee.  All that work is not worth it for the little you will make. 

Why not see if you can get your dentist to lend you private money so you can flip a few deals and make most of the profit?  Or get him to lend and you do most the work and split 50/50 and make sure he doesnt charge interest.