Updated over 4 years ago on .
Help in structuring a partnership???
Hello all, I’ve searched this thread but didn’t see anything that was specific to my situation. Here my scenario, i have 6 doors currently above and beyond my current residence (5 of them within the last year) Ive told only a very few close friends and family of my endeavors thus far. I mentioned recently what I’ve been doing for the last year to my brother in law. He was very interested and intrigued of what is happening. So much so, he wants to get involved. He is wanting to be involved only on the lending money side. How do I involve him assuming that he brings the money and i would then be in charge of everything else. Our strategy would be that for buy and hold (mostly small multi-family), focusing on monthly cash flow. Looking for others that have partners like this. Looking for a structure that is fair for both parties. I know from listening to all the podcasts, they make it sound easy to get a partner, but don’t really go into detail of how that works. Any help out there??
Ps… for reference, this is my wife’s brother, we have a great relationship and have been married to his sister for 20 years.