A new investor working with a silent partner to find a deal.

[Ryan Anderson]

Starting last summer I knew that I wanted to do real estate for the rest of my life so within a few months, I gathered every penny I could find and bought my first home which I am currently house hacking; I was instantly addicted.

Currently I am reading about real estate constantly, listening to BP podcasts and saving what I can for my next purchase but I am not raising capital fast enough.  I thought of getting a different job to increase my income, but the job I currently have gives me an incredible amount of free time and is ideal for someone like me who wants to get into rentals/property management.

So I started talking to as many people as I could and I found a partner who has a massive amount of capital but no time (he runs a company as well as manages 15+ properties).  I have a huge amount of free time and hardly any capital.

My questions are:

How can I structure a partnership that protects both of us for rentals?  (It seems much easier with flipping since once the house is sold everyone gets paid. Versus a rental income becoming passive income.)

Should I seek out a real estate lawyer to help me with structuring the partnership?

What books/blogs/articles can I read to have a better understanding of how to create a solid partnership that will last?

I thank you all for your help and I am excited to see where this will go!