Partnership Structure Ideas

[Dustin Harrington]

Looking for those w some ideas regarding a partnership deal/structure.

I’ve worked with RE Broker over past 7mo on 3 different deals. We enjoy working together. He’s very busy w his broker business, rental properties, other investments. He has great contractors and is great at creating value. His money is spread all over.

He brought me an outstanding deal.

Under contract for $90k Includes 3 bedroom house and brick and mortar old storefront on same lot, that will convert to residential (short term). Rehab 90k.

The after repair value of this property is roughly $300k.

I'd be the cash to close (all cash mandatory), fund most of the renovation, and manage the STR. He doesn't want to wholesale it.

Me- $150k

Him- $30k

How have you structured deals like this?