commerical/retail advice -$1.3 partnerships and financing
hey all,
looking for advice on creating partnerships, and also financing for a $1.3 million or so commercial real estate property.
1. Creating partnerships: do I get a lawyer involved for legalize surrounding equal share partnership? I'm thinking either thirds or quarters depending on my comfort level and interest. Also, should I be writing in that I gain a point or two by finding and putting together the deal?
2. Bank financing: met with a banker and they recommended asking seller about holding a note for a % of the down payment. Does anyne have experience wtih this? Thanks.
3. Any other retail advice: five store fronts and office space on teh second and third floor are currently rented to restaurants, food stores, architects etc. Scary foray for me - any thoughts?
Thanks