I am starting out: Investor & contractor relationship
good Afternoon all,
I am very excited to start my realestate journey. Currently I am still following a few listings out Of philadelphia PA. I have a very specific question. I would like to start a partnership with my father in-law. Who is like a rehab miracle worker. He has rebuilt properties with great quality materials and at only a fraction of the price. Example: he just finished 3 floor house gutted from top to bottom and hasn't even spent $500 he is a very savvy contractor. taking such qualities to the table, I am thinking about investing in multiplex properties for rental income. A partnership with him would minimize the 50% rule drastically minus vacancy etc and can help me manage the properties as he managed over 40 properties in the past .. anyhow the only thing is I would be the sole venture capitalist using only my credit and funds. Does anyone have a similar business relationship and know a good structure to split the cash flow fairly?