What terms for a hard money lender?

[Ben Sherman]

I am looking at buying some rental properties in TX this year (Houston). I don’t have any debts and I have enough assets to do some deals on my own. That said, I do have a friend with additional available funds that wants to invest with me. I could go in as a 50/50 partner on the first couple of deals or just have them join when I need additional funds.

Would you suggest bringing in a partner for more access to funds when starting out?

Would you recommend having them be 50/50 partner or just lend money to me?

If I had them lend money on some deals, what are some common terms for this type of hard money lending?