How should I structure this partnership with my father?

[Redha Laafia]

Good evening BP,

I am literally running in circles for the past few weeks regarding the JV structure I am trying to design with my Dad.

He has the capital to invest (no time, no knowledge), and I have the time, energy and hunger for REI success. I think our partnership could be really successful and meet both parties goals.

We want to buy & hold residential rentals in Florida and grow our portfolio of cash-flow houses. The capital will be used for down payments of residential loans, rehab projects. Eventually, we would want to branch out to multifamily buildings after we gain some experience and meet to right people to partner with. For now, I will try as much as I can to look for BRRRR SFR opportunities.

How can I structure a Joint Venture that benefits both of us for the long-term? Does this JV almost looks like a syndication but with 1 LP (my dad)?

Keep in mind that I have $0 capital. However, i want to benefit not only from the monthly Cash Flow but also the forced appreciation/appreciation of the properties we will acquire.

Guys, thanks a lot for your help

Redha