Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago,

User Stats

1,740
Posts
1,399
Votes
Paul De Luca
Agent
  • Real Estate Agent
  • Chicago, IL
1,399
Votes |
1,740
Posts

Partnership Agreement - advice?

Paul De Luca
Agent
  • Real Estate Agent
  • Chicago, IL
Posted

Hey guys, I'm planning on partnering with an out-of-state investor and we both agree that we should sign an agreement that outlines the responsibilities of each person. The plan is for me to find a BRRRR deal, present it to my partner, and manage the rehab. My partner would provide the financing for the purchase and rehab so it would be zero money out of pocket for me. He wants his role to be as passive as possible and I do the legwork. We would hire a property management company and split the cash flow & expenses 50/50 once we place a tenant. We'll both be on the title.

Should I contact an attorney to draw up some sort of standard agreement to detail the above information or can I just create something myself? Is there something boilerplate out there that I could use?

business profile image
Magnus Properties LLC
4.9 stars
24 Reviews