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Private Lending & Conventional Mortgage Advice

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Brian Johnson
  • Real Estate Investor
  • Lindenhurst, NY
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9
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Silent Partner

Brian Johnson
  • Real Estate Investor
  • Lindenhurst, NY
Posted Apr 15 2014, 13:11

I am looking to partner with a friend of mine. He is going to put up his credit and half the money for a but and hold purchase. He has agreed to let me run the property and he is going to act as a silent partner.

My question is, how should I structure the deal?. I mean I have an idea, but I have never done a deal like this.

What details am I missing and what should I be aware of?

The property should return $1500-$1700/month profit. Should I structure the agreement like a 55-45% ownership deal or should it be 50/50 and an agreement with my current LLC. to manage the property.

I am a newbie and any and all advice would be useful.

- Brian

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