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Updated about 6 years ago, 11/03/2018
new partnership on rentals
I'm entertaining the notion of partnering on rentals so as to acquire leads that I would otherwise not be able to, due to lack of liquidity. Currently, I am a wholesaler with strong marketing in place, spending thousands each month. I am able to consistently drive in multifamily leads and see that as a valuable asset to a partnership. In the past, I've stayed away from partnerships because I have seen them go sour, however, I feel good about the current prospect and can see the value he brings to the table. He is versed in tax credits and project management- possibly property management. My question is: what does a typical rental partnership look like on paper? How would splits typically be if one guy brings the deals and the other guy brings the dough and project management. It should be noted that I also have an excellent GC that could contribute to the value add phase.
Appreciate the advise as always on here!