Starting rental business

[Joseph Ojea]

Hello guys! So I’m going to be buying my first 4 plex around February, in the Daytona Beach, FL area. It’s my very first one, so I’m just kicking off my business. I’m going to be going into this with one other partner, possibly two.. It has already been established that I will bee CEO, commander and chief.. So with that said, I’m trying to figure out how is the best way in can structure our contract. The loan will be for around $200,000. The loan all in my name, “I think” using my credit, all my resources for the Leander to see, “$14,000” etc. The part that bring me into question, is how do I decide who owns what percentage of the property.. I’ve decided to not call it a percentage of the business, because I’m not sure how that’s going to work moving forward, for the next property and so on.. But for this initial property.. “if the down payment was $10,00” and outside of everything else, I put in $9,000 And my partner puts in $1,000.. does that mean that he will own 10% and I own 90% ? Let’s discuss!!! :)