Investing with Family

[Kevin Janssen]

My sister and I are looking to partner together on our next purchase. I have two deals done under my belt on my own and this would be her first. She hasn’t done a lot of research but brings a bit more than half the money. I’m not sure how to go about approaching ownership split as I would be doing majority of the management/maintenance besides maybe some assistance on tenant turnover. Not sure if we should have documents from a lawyer written up but I’m not sure how to bring up like a 60/40 split in my favor if she’s bringing more cash. If anyone has any experience with this type of situation I would appreciate their input.