Structuring a Partnership

[Hoseah Njuguna]

Am looking for some input on what are good terms for a partnership.

I have a deal that I am presenting to a potential partner.

Its to purchase a commercial building and lease it out to a long-term tenant.  The numbers look good.  The only thing. I can not come up with the 20%  downpayment for this building (priced at 359K--so downpayment is $71,800). The rest would be financed.

Based on my calculations...IRR of 48% per year; 15yr holding period.

Now since I am the source for this deal and will take all the steps from negotiating purchase price etc; bidding to lease the space, negotiate terms of the lease, oversee the tenant improvements etc.

So the main thing the partner is contributing is the capital for down payment.

Whats a reasonable partnership split for such a deal?