OfflineI am planning on going in with partner investors. Here is the idea:
Myself: Great credit. Will be the credit partner.
Investor 2&3: Property Managers/Agent: Will find property, analyze it, Manage it once acquired.
Investor 4: Will find money sources for down payment.
This looks great to me as I will only need to come in with the conventional financing. The other investors will do everything else. My main concern is what should I require as my "share" for risking my credit which may be for a few to many years? Assuming we go after "Buy and Holds" for example. I am thinking I will get a percentage of monthly cash flow and equity share.
Does anyone have experience with this situation?
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a "partnership" if you are the one with the great credit. If things go wrong, you will be the one paying. Form a LLC instead and be percentage members.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Bill is correct in forming a LLC. I might add you should think about the LLC before you even consider who gets what of the cash flow. Too many times investors only see the cash flow to line their pockets and forget about issues like propety upkeep,repairs, etc etc. There are way too many things to do to a property to get money into your account. Take small steps to start. Take care of your prop and renters and the bank account will grow...Jan