I just found an equity partner and our plan is to purchase multi units. He has the money and I will be doing all of the leg work in finding the properties, due diligence, value add, and managing the properties. He has stated that he wants to do a 70/30 split since he has the funds. I don't have the money for an attorney to draw up a contract so I must do it. Any help on this contract would be great. Possibly an example for me to work off of would help. I'm assuming I do not pay him back since this will be a joint venture-am I thinking correctly? I met him through LinkedIn, he is older 60-70's of which I like , but we can't talk on the phone because he had a stroke. Should I also ask for a copy of license? I really need this contract like last week-please help if you can. Thank you!
Hi,
I just found an equity partner and our plan is to purchase multi units. He has the money and I will be doing all of the leg work in finding the properties, due diligence, value add, and managing the properties. He has stated that he wants to do a 70/30 split since he has the funds. I don't have the money for an attorney to draw up a contract so I must do it. Any help on this contract would be great. Possibly an example for me to work off of would help. I'm assuming I do not pay him back since this will be a joint venture-am I thinking correctly? I met him through LinkedIn, he is older 60-70's of which I like , but we can't talk on the phone because he had a stroke. Should I also ask for a copy of license? I really need this contract like last week-please help if you can. Thank you!
Skye
Skye