Structuring a partnership

3 Replies

Hey BP community! I just got my first deal's offer accepted and I'm pretty excited. 4-plex house hack. Can't wait to move in and start this journey. That being said, I'm already thinking of the next deal. So a little back story, I live in a small town in southern New Mexico with a population of about 31,000. There's not a ton of properties down here to choose from so I've been giving some thought into distance investing. That's where my brother comes in. He lives in Denver, CO and shares my passion for RE. We have been discussing partnering on a deal but don't quite know how we would divvy up the responsibilities. Any thoughts would be greatly appreciated. Thanks!

really sit down and make an agreement that you would want and have him do the same without discussing with each other first ideas of what you want. Then read both but things together and do it over again , and again until you both agree you have covered enough and what you want then go get it notarized.

@Jeremy Swanson I’d figure out what both of you can bring to the table. He isn’t going to be managing the property as much as you would. Maybe one of you can be the managing partner of the LLC while the other is the silent partner?

@Jeremy Swanson , I agree with others posts above....you can also search "structuring partnership" here on BP and there is quite a bit of information that will help provide better insight. From blog posts to podcasts, BP has enough information available to get you moving in the right direction.