Silent Partner Contracts

[Jennifer Cooper]

Hi, Im 38 years old, put our second offer in on a possible STR rental. I invited my parents to come with my husband and I to look around just for the heck of it because my dad is retired and since we had three young kids Tagalong I thought it might be helpful to have my parents with us to distract our kids.

Well guess what?! My dad was so intrigued by all of our research that he wants to invest in our business as a silent partner. Is there anywhere I can go to look sample contracts of how people make these types of arrangements, what types of things need to be negotiated etc. Need something very well thought out. He wants to be a long term investor with 50k and for my brother to benefit from his investment when my father passes. 

Is there somewhere I can see examples of an arrangement like this?

-Jennifer

[Cody Lewis]

That's fantastic to hear about with your Dad! IMO, the best move would be to speak to a lawyer instead of trying to find a contract yourself. It will cost a little money up front but well worth it in the case that anything is disputed in the future.