How to form a partnership?

[Vincent Gamboa]

Hello BP,

If I am looking at deals and am ready to put in offers but cant afford them alone and wish to form a partnership, how and when do I go about doing this? I have met a person who I have exchanged contact information with, but I never asked what exactly what kind of business relationship that he was looking for. He simply said call me when you get your first deal and in a seemingly joking manner "You can add me to your buyers list".

It is apparent that he is a true investor with money based on the conversation we had. But, as I am looking for deals, is it appropriate to talk to him about a potential deal that I wish to put an offer in on, or do I first put an offer in first and wait for it to be accepted? Then, I seek out a request for a partnership in a rehab for the property? 

A fairly basic breakdown of how a partnership is formed would be greatly appreciated, thanks!