Private Lending/ Partnering

[Tom Vanderlinden]

Hello all,

I have a question about private lending and partnering with someone with deeper pockets. I am interested in buy and hold, so far I have a duplex and 2 SF houses. Recently a relative with much deeper pockets told me to let me know when I am ready to take on partners/investors, but I'm not sure what that should look like. I guess this is a good problem to have, but I'm not sure how to start the conversation with him. I don't know if there should be a 50/50 split of money invested and profits or if he could finance something for me and then take a percentage of monthly rent? He didn't make his money in real estate so I'm not sure he'd understand BRRRR or be patient enough for the return. What would you all do or suggest for a partnership in this situation? Thank you.