Navigating the use of private money

[James Glover]

My business partner and I are new to real estate investing.  I currently house hack, and we just purchased a triplex. I was recently approached by a co-worker who wants to invest in real estate and offered to provide money to purchase one or multiple single family dwellings as rental properties. He suggested that he could provide the capital, while we handled all the leg work for purchasing, and property management as a 50/50 split.  He wants to be a silent partner in the investment. What is the best way to purchase a property with a 50/50 split in ownership on the investment? I know this is an open ended question, however Im not even sure where to start to protect both of our interests.