How do you structure your partnerships?

[Brian Dickerson]

Hey all,

Thanks to BP we've closed our first deal recently and almost closing on a 2nd (both buy & holds).  Looking toward the future , I know we're running out of cash soon to do deals on our own.  A friend of ours wants to put in money but doesn't want to be involved much in the actual process of finding properties or doing rehab if needed.   We'd probably still each put up 50% of the cash for the first deal.  I'm curious how you guys would structure the splitting of profits on this specifically, and in general on other scenarios as well.

How do you guys structure your partnerships if one person finds the deal, organizes rehab, and the other partner only puts up a portion of the cash?