Convincing My Dad to Buy a Property With Me(50/50)

[Nick Satterfield]

Hello,

First off, I'm a 21 year old college student with little to no credit looking to purchase my first investment property with my dad. I am very interested in real estate and plan to become a full-time real estate investor/developer when I graduate school. My dad and I were recently discussing this and he is on the fence(leaning towards yes). My dad works in construction as a general contractor and I have been working for him for the past few summers. I have enough money saved up for the down payment on a small property however I don't have the credit to get a loan. If my dad says yes, we will split everything 50/50 under an LLC. I will handle negotiations/finding tenants if we choose to rent/financials while my dad will manage the property and take care of any small repairs. If we choose to make major changes, we will do this together when I'm home during breaks. To convince my dad to invest with me, I'm going to make a presentation with all the necessary information. I'm open to any options for monetizing the property(renting, buying a fixer-upper and reselling, building on raw land)

My personal goals are as follows:

Get my dad into real estate investing. My dad isn't too investment savvy, however, he is an expert in construction(everyone I meet that has worked with him always tells me how good he is) and I would really like to purchase a property with him to get him interested in real estate. He has little to nothing saved for retirement and one of my goals is to help him retire comfortably through real estate. If the first purchase is a success, there's no doubt that we will do more business together in the future. My career goal is to one day design and build large, modern homes and I have access to the money required through investors, but having my dad on board is my number one priority.

Build a successful real estate portfolio. My future career is in real estate and my goal is to not have to get a job after college, instead working for myself(hopefully with my dad) as a real estate investor/developer. To do this, I need to show my dad first hand that real estate can be extremely profitable if properly executed.

With that being said, I'm writing this post to seek ideas for information I should include in the presentation, as well as any pros/cons/stories regarding the above options and real estate investing in general. I believe I'm knowledgeable about real estate for my age and ready to get my feet wet purchasing my first property. I appreciate any and all input because I'm looking for things I might have missed when writing the rough draft for my presentation as well as advice from experienced investors. Thank you all in advance.