Hi all. This is my first post on BP. I am a 35-year-old physician living out of state with plans to return home within 2 years. To that end I am raising capital to start BRRRR type investing in multifamily homes. Some friends and family are interested in buying in to the right deal, but I don't understand how they get paid (wrong specialty I guess). Is there a more advantageous way than others? For example, if a partner and I split the acquisition/rehab costs, do we each get a 50% stake in the equity of the property? Do we each also split 50% of an "owner draw" on rent profits? Based on what I have read and watched, it does not seem like you can quit your day job with 1 property, as most of your capital is tied up in it. I just want to make sure that I have my head on straight when thinking about how people get "paid" in this business. Thanks for reading this far if you did!
