I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.

I am the boots on the ground and provide all of the time and my partners supply the money.

You typically offer it to your partner first to see if they will buy you out.

For example if one partner brings the 20% down payment and the other will do the labor for renovations then what would be a reasonable split be.

I was thinking he supplies the down payment and acts as a silent partner.

It's not that I want to partner with my aunt.

However, you should think hard about the relationships and agreements/contracts you have with these partners should things go south, as they very often do for new anybody-anythings.

A syndication was way overkill because there were only 5 capital partners so they customized an operating agreement with their attorney that outlined roles and responsibilities, distributions, membership interests, etc.And you don't have to have all this stuff figured out right now; it's very customary for us to assign the contract to whatever customized entity we end up forming.Just one caveat. 

I’m reaching out with an investment opportunity in a real estate flip project, and I’m currently seeking a limited partner to join me.With a strong track record of successful real estate investments, I am looking to partner with someone who shares an interest in capitalizing on the potential of this market.