Building a partnership for mobile home parks
I'm stuck and need help finding the next piece of the puzzle!
I would like to structure a partnership to purchase a 15-30 lot mobile home park in the NE Tennessee area. How would you structure the partnership given:
1) The purchase price will be around 450k
2) I may qualify for a commercial bank loan with 115k down (a loan officer said I would qualify, but I don't want to count on it too soon).
3) I can find owner financing deals with around 100k down
What I have to offer:
1) 50k
2) I am able to do almost any type of renovation work (I'm a full-time flipper)
3) Flexibility of time/extra time
How would you structure a partnership in this scenario ?
Can/should I just use a 65k private money loan instead and how would I structure and secure that loan?
Thank you all very much for your help, it makes life so much easier!