Thoughts on how to structure a Multifamily partnership deal
Hi BP, I am looking to invest in my first midsize multifamily property in Central Florida area. I would like to bring in some passive partners for the deal and I have a few friends that have shown interest but I am not sure of the best way to structure and present the deal to friends/potential partners. I am focused on deals in the $2-$2.5MM range, with about $150K of my own money in the deal. I will be planning to bring in about 3-5 limited partners to raise the necessary equity for the deal.
If anyone has done partnerships of this size could you please recommend the best way to structure such a deal in terms of ownership, profit sharing and exit expectations.... I have tried to look through past forums and done some searches but I didn't really find anything specific enough that addressed this. If there is a guide / article or more detailed information available somewhere in BP--- please feel free to let me know.... thank you all !!!
Cheers!