How do I properly construct a purchase with a partnership?

[Shawn Smith]

Hey guys I’m Shawn! I’m a new investor who acquired his first property a year ago, a small multi-family (duplex) in Atlanta, Ga. I’m looking to acquire another property this year by utilizing a business associate as a partner in the purchase but I don’t know where to start or how to go about this! I’ve been reluctant to use other investors’ money in a purchase because of my lack of knowledge in this process. My main question is, who’s responsibility will it be to divide the earnings amongst the partners? Myself or the property management company?

[Costin I.]

@Shawn Smith I suggest you read this article:  How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor and this thread taking-on-partner-s-and-limiting-our-liabilites.