Updated almost 5 years ago on . Most recent reply
Looking for suggestions!
Hello!
This will be my first post on bigger pockets. I am a new investor and just bought a house with my wife. The house came with a finished basement with potential to be a mother in law. We are spending 15k to finish the ADU: adding a kitchen, appliances, plumbing, electrical etc. We plan to start renting it out in a few weeks.
For our next step, we are planning to buy a small multi-family property or a good SF deal. My father is willing to provide the down payment for a property as long as I do the work in finding/analyzing the deal. We would then plan on splitting cash flow 50/50.
Is this the best way to set up and incorporate partners? What are better ways? Also what do you think would be a logical next step now that I live in a home with an ADU?
Suggestions greatly appreciated!
Most Popular Reply
#5 All Forums Contributor
- Plymouth, MI
All he's doing is giving you the DP...and he's getting 50%? Where do I go to get a deal like that?