Does anyone have experience with structuring a STR joint venture or partnership?

[Alesandro Breguez]

Does anyone have experience with structuring a joint venture or partnership in the Poconos area?

Context: I am an investor with a portfolio of STRs in the Poconos but I can’t run the daily management of rehabs and property management. I wonder what your experience is with partnerships where one party brings the capital to the table and the other party the work/time. Looking forward to hearing about your experience, pros and cons.

[Andrew Steffens]

I do not have any experience in Pocono market but I do have partners on some STR's I own. A variety of ways you can structure with who is on title etc but have a simple, solid, attorney prepared operating agreement that clearly lays out roles, responsibilities, and compensation and you should be fine. Make sure to cover things like what happens when one party may want to sell or cash out etc.