How do I set up a fund or account for an overseas investor?

[Mark Burik]

Hi Everyone.

My tax history is weak and I'm low on cash. I have a friend who can kick in a lot of cash which would give me great bargaining power. He has agreed to split deals 50/50 where he provides all the funding and I provide all the work. Then we split cashflow at every 6 month mark and when we sell the home we split it 50/50. He would be really hands off other than deal approval.

I have this set up but sellers ask for PROOF OF FUNDS. What is my best course of action? Do I just set up a separate account? Do I set up an LLC? Should I just have him put money into my personal account? How do I show sellers that I have the buying power and get this funding ready?