Private Investor Strategy & Questions

[Tanner Carson]

Good Evening BP!

Okay so I have 1 flip under my belt (net 19k)

I put all that money back into my current residence that we are deciding to make our primary residence after 35k of renovations, because we love it so much. My neighbor saw me working everynight late and came over a few times. This basically grew into him loving the work I did and wanting to invest in and with me. After a meeting today, we discussed numbers and goals. By January we want to initiate our plan. This doesnt mean rushing into a deal but being able to finally analyze deals with power to buy.

I have a bunch of questions i would love some help on.

What are some options when structuring a parntership like this, 50/50 a good route?

A major question i have is what happens after we sell the property? as far as taxes go, we plan to do multiple deals together, do we have to 1031 into the next property or how does that work?

I would love feedback and advice or even links to something to read.