Question and joining a partner
Hi all! I am looking at joining a friend of mine that I know and deeply trust in our first real estate venture. I am a health professional and have $200,000 extra in after tax cash a year looking to invest into real estate. However I have little time. My friend has some experience in purchasing and managing rentals and has a real estate license. I have money and no time. He has time and no money. 😄. So we would like to come into a partnership where he would use his sweat equity in finding deals and then managing them, doing a lot of the repairs himself. I would provide the cash and financing. We would create a LLC partnership. Any thoughts on what is win win for both of us in terms of percentage ownership. I know this is a complicated question. I do have a competent business/real estate attorney but wanted to ask what others thought. Thanks so much!!!!