How to Structure Partnership
Good morning bigger pockets have a serious question how would you go about looking for partners and Structure and partnership.
I have a 33 unit building. With no capital how would you go about structure and a deal like that.
@Steven Winfield There are a million ways of doing this. You can start by searching on the forums and/or consulting with an attorney (wouldn't recommend this starting out but you will still need an attorney - eventually).
@Steven Winfield
How well do you know the seller? If you and the seller are close maybe they’d finance you with no money down. If you have no relation, your best bet would be to raise the money you’ll need for a down payment and then try to have the seller finance it. There are plenty of ways to raise money, you just have to figure out which way works best for you.
@Steven Winfield so let me get this right, you have no money but you want to " partner " with someone ? So you want someone to pay for it and you benefit 50/ 50 ? Is this correct ? If so you will not get 50% , why not simply act as a finder , make some money, and do it again. Once you have enough capital then you can go on your own,
Good Luck
What do you mean you have a building? Do you have it under contract? Structure will depend on the deal and to what degree you have actual control.
@Bob Prisco thank you. that was one of the ways I was thinking of also
@Steven Winfield I like to thank you all for your answers and it was very very helpful.