The hardest thing was pulling the trigger.

Hello all.I joined a while back with great hopes and aspirations but never pulled the trigger.

I’m in a partnership with 2 other partners that I’ve started wholesaling with.

Basically I'm trying to benchmark this deal and review the structure of my partnership.

I’ve saved money to purchase my first piece of property but I may need an investor to ensure that we have enough funds. How do you create a contract and determine how much each shall get?

Ideally we would get an attorney to draft up the specifics of our arrangement but things that we are unclear about include things like, who should take out the mortgage (both names v.s. the one who can get the better offer), what documentation is essential i.e. equality/partnership agreement.

Reports required by the city and it's a state requirement. 1985 would make sense to trigger a lead test. 

You could consider the interstate corridors of 65, 69, and 74. 2) investing with friends or family is like any partnership - lay it ALL OUT.

Either way, I think it is important to work out the structure of a partnership before you enter one, so as to address both parties goals, challenges, and expectations.

Any advice on the legalities of setting up a business partnership would be helpful!