How to set up partnerships

[Mariam Ondik]

I have few real estates properties that i bought without any partnership and manage it myself. I have 2 close friends that would like to go into a partnership on a big commercial property but they don’t have any experience in it. We would like to keep 33% ownership for all three of us. I would be the one finding and managing and doing all the work for the property and would like them to supply  the down payment and closing costs. What are some of the scenarios for this type of partnerships? Thank you!