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Updated almost 7 years ago,
Need help developing a partnership agreement
Hello,
I have diligently been working for the past few months on identifying a multi-family investment in Houston and I have finally found a good deal. I've been working informally with a financial partner who is also interested in this deal.
I was hoping to get advice from the community on how I need to establish the partnership agreement.
The property is a 6-plex and it will cash flow $29,207 per year, with a $117,453 back-end payment upon refinance or sale at the end of year 5.
I would like to have a 3-way partnership, and the total cash required at close per investor would be $31,103.
How should I setup a partnership with these numbers and what are some good resources for finding multi-family specific partnership agreements.
Thanks,
HS