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Updated over 6 years ago,
Turning Father to Funding Partner
Hello,
From this post I hope to find resources and material on convincing my father to be a funding partner behind future deals. He has a couple hundred thousand dollars in cash and has plenty of exposure to real estate as he and his brothers hold $30+million in commercial real estate in my home town. Having said that, he runs the other family business and is not hands on with the real estate.
Now, my father has expressed willingness to let me offer cash on my first property (whether he buys it and I buy from him or he transfers me the funds and I pay him back, we have not decided the best way around this yet). But what I am most looking for is feedback on the resources and knowledge from the standpoint of already having half a million in cash to lend. What sort of partnership can we create where I benefit from having access to the cash and he gains higher than market returns? Id like to go to him with a pretty thorough understanding of the ins and outs of how we can both be better off with such an agreement.
Thank you,
Chase