Best Strategy with an Equity-Focused Silent Cash Partner?

[Rachel Luoto]

Good morning BP!

A friend has approached me to be my silent money partner! Yes!

They will provide 90-100% of the money, I would do all of the work - I currently have a flip and two rental properties

Rather than be a debt partner, my friend is interested in equity splits - he's an entrepreneur with a high risk high reward mentality and has prior real estate experience in the development niche

Where would we be best positioned with this dynamic? Options as follows:

- Buy and hold in cash, split cash flows each month and split equity gains upon eventual sale

- Buy and hold with a mortgage, split cash flows/equity as above, use leverage to pursue higher priced small commercial deals

- Traditional flip

- BRRRR, with or without the refi aspect

What's your favorite stategy? This is the opportunity to get out of my 9-5 and be full time in real estate in a much shorter timeline than I had thought possible :) Thank you in advance for the feedback!