How to structure partnership for long-term rentals
I am curious how one might structure this partnership. I'm looking to purchase a rental property. With what I'm looking for, I will need to be in about 40-50k up front between down payment, closing costs, and repairs.
What I offer: I'm a realtor, and I'm putting in legwork to find the property both on and off the mls, and I will do the negotiating and offering and legwork to get the deal closed. I am also a handyman myself with contractors in the family and will be doing the repairs myself. I will also be managing the property, finding tenants, collecting rent, and doing the books. I also have about $20k to put in.
What I need: one or more financial partners willing to put up $20-$25k. Silent money partners.
I believe I may actually be able to raise the money from some people I know in my life. But I'd like to know how somebody might go about structuring the equity/profits percentages based on what both parties bring to the table. Thanks.