Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated over 6 years ago, 05/25/2018
Partnerships and Payments
Hello Fellow BP'ers
I am looking to gain some info and possibly some results.
I found a property that was vacant for a bit of time and the owners decided to fix it up to sell. It was stripped all the way to the studs. I am currently waiting on a refi to free up some cash.
I reached out to some people in my local REIA group to look for partners to help purchase this property.
I'm blessed enough to have 2 people who are interested in in partnering (co-ownership) on the property. Splitting the cost 50/50 and the profits.
Question:
How would you guys structure this partnership before moving forward on this opportunity?
In terms of keeping both parties legally protected financially and legally?
Thank you in advance !!!