Partnership Structures - What Have You Done?

[Brian Dean]

I would love to hear from some Canadians that have done Joint Ventures and/or Partnerships, specifically when one person provides the cash and financing ability, and the other partner finds the deals as well as oversees all management aspects.

My specific interest is in how people have structured their equity agreements if one person is providing the money and ability to qualify for the mortgage, and the other person will be finding deals, arranging everything, and overseeing all ongoing aspects of the property. In my situation I am looking for long term holds, not necessarily reno's. Small multi-families. With the aim to build a portfolio over time with a financing partner.  

What has worked for your partnerships? Do you usually do 50/50 splits? Or do you find the person putting down the equity usually wants a larger percentage if it isn't a labour intensive property like a fixer upper or BRRR?

Are there specific resources that you'd recommend in regards to partnerships or joint ventures?

Also, in Canada, did you create corporations for your partnerships?  What tax structures did you find most advantageous?  Did this vary based on the size that you aimed to grow to?

Are there creative business structures that you found worked well?

I'd love to hear from a bunch of people of what approaches and structures worked (or didn't work).

Thank you