set up partnership for the last parcel purchase for redev.

[Patrick K.]

Hello all, 

I have assembled a lot for redevelopment, currently only missing the corner property, and they just put it on the market. 

property is 3.4 mill, Now I do have enough for 25%, but since it's commercial, and based on DSCR and its existing profit, I estimate I can only get a 1.5 mill loan. don't want to carry a 75% private lender either, so I am looking at a potential partnership.

Can someone shed some light on how this type of partnership is normally formed? i.e. I already own a few properties on the lot, the partner will only invest into this corner unit. since we are looking to re-develop. how do I calculate how much "pie" to give the investor? 

thank you for your time.