Partnering with Family
So I just got my 1st rental property in April of 2016, and am in the process of closing on my 2nd property right now. I have found some great deals, and everything is going very smooth, thanks to this site and all of the knowledge I have gained. My parents have seen the success I have had, and know my long term goals are to grow this into a large portfolio/business. They now want to go in on deals with me as a "silent partner", and not have to deal with any of the day-to-day activities such as dealing with tenants, repairs, looking for properties. I am just looking for ideas on how I could structure these deals from people who have done this with family. Do I have them completely fund the deal and split the cash flow 50/50? Do I split the downpayment with them and work out of a percentage of return they would get? Just looking for ideas & advice. Thanks!
