What does a proper partnership arrangment look like?

[Sky Cornell]

I am a Realtor, Contractor, LTR/STR Investor and Property Manager. I get asked all the time by friends and family to "go in a property together" but I can't seem to find a scenario where that makes sense to me. I know i'll end up doing everything (find, buy, fix up, and manage) so a 50/50 arrangement just doesn't seem fair. I don't want either side to grow resentfull. The only reason why I would partner with someone is to free me up to purchase more properties (both financially and debt to income)...but if I'm still coming in with half the expenses and doing all the work, it doesn't really make sense.

Any suggestions?

[Nicholas Coulter]

@Sky Cornell I suggest an equity partnership. For your LTR and STR deals you have them do down payment and up front expenses. You manage and then after its live you guys split costs 50/50 and split profit 50/50. This gives them security you have skin in the game and also allows them to sit back while you work on the deal.