First deal with a partnership

[Menachem Hodakov]

Hi, hope everyone is doing well. Would love some advice. I have a couple properties I am interested in purchasing with a partner. We are willing to split the down payment and go equal 50/50, but the thing is he has the income, and I have a few dollars saved up from random things.

[Andrea Weule]

Welcome @Menachem Hodakov to BP!  

First I agree with everything @Nathan Gesner says. You need a clear plan and division of activities. Beyond that I recommend an actual written agreement. I'd draw up a partnership agreement that spells out the terms. In addition for tax purposes I recommend creating an LLC that in the operating agreement notes the terms of the partnership. Also it should break down the % owned whether it is 50/50 or not to ensure you're both covered in the tax department and no on is overburdened.

Keep after it.  Best of Success!