How to start a partnership

[Kole Halladay]

Hey guys! So I have a stable and steady full time career as a Firefighter that brings in between 80-85k.

I recently obtained my real estate license and just closed on my first deal.

I have a background in construction and built my own home in 2018.

I have a client, and friend who I’ve been helping. He is an investor who has been house hacking and BURRRing. I started researching and got turned onto BiggerPockets podcast and the forums.

I want to approach him about a partnership, but don’t know how...

I have a 80k HELOC available

About 20k cash.

What should I say?

What do I offer? 

What would the split be?

Do we write a contract or just shake hands? 

Do I even start a partnership? Or go out on my own?

Any ideas or advice?

Thanks guys!