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Updated about 5 years ago,
Partnering with friend! Set up help!
In a nut shell, I have a property under contract. I can do this deal by myself, however, I am willing to partner with a friend who is interested in learning the ropes of REI. He cannot invest himself because of his dti (student loans). I understand the cons of bringing him in on this deal, but there are some solid pros as to why I'm open to it.
Question: what is the easiest way to structure this deal? Because I have the deal, financing options, and the know how, I think I want more than just 50/50.
What do y’all think is fair? 40/60, 30/70, 25/75? All duties will be split, however because he lives 1.5 hours away, I may Be more active with tenants/fixing issues that arise..
@Brandon Hall suggestions? Do you work with people who only have a house hack/ 1 rental property? If so I need your assistance for this years taxes!!