Funding First Investment Property with Other Investors

[David Smolen]

New investor here: I want to buy a property, cannot fund it myself, and have 3 other potential investors. What is the best way to structure this? How do these investors get paid out? Do we set up a company? Where can we get more info on this?

I just listened to the latest BP podcast interview with Grant Cardone and started thinking about Grant's concept of "buying outside of my budget." Anyone have any experience with this?

In summary: explain like I'm 5 please.