Looking for a Limited Partner

[Mason Kimball]

Hi all,

Multi-part question here, feel free to answer any or all parts. I know this is a long post so I put numbered questions at the bottom

Recently have gotten the real estate bug and have been tearing through books, podcast, and forms.

I want to jump in myself but I’m not sure I have the capital for a deal while maintaining plenty of cash reserves, especially with the uncertainty in the current economy.

I thought if I could find a well funded partner, that would solve the problem. Where have you guys found partners and how did you structure your partnership (capital split and profit split percentages).

I would love to find someone who has the money but no time and is willing to structure a partnership where they put up 75% of the capital and do no work for 50% of the profits.

Also, the 3 things needed for a successful deal are money, hustle, and knowledge. I know I have the hustle, and I know I don’t have the money to fund 100% while maintaining appropriate reserves. How do I know if I have the knowledge to justify taking 50% of a deal that I only funded 25% of? I have done a ton of research and have gained a lot of knowledge, but I still don’t have any hands on experience that I feel would really take my knowledge to the next level.

So for a TLDR, in essence these are my questions:

1. Where/how have you found business partners?

2. How did you structure your partnership?

3. If I know I have the hustle, know I don’t have the money, how do I know if I have the knowledge to deserve 50% of a deal I put 25% of capital into?

4. Would a 75/25 capital split and 50/50 profit split be a reasonable deal for a limited partner that doesn’t have to do any work?

Thanks in advance for any and all input/experiences!

Mason