Questions About Potential Loans And Partnerships help please!!!!

[beat_banger]

hope someone can give me some insight on this..
heres my situation..
i got about $6000 worth of gear in a home studio. that i need to get outta my crib.. reasons being that i live at home w/ my wife and kids so I cant bring potential clients over to do sessions.. i dont gotta explain why thats a no-no...
now i dont have the dough for a down payment for a spot right now, and i found the ideal spot (a little warehouse) where its just big enough for me to turn it into a control room and add a vocal booth.. my getting clients once i set up is not gonna be a problem... i dont care if i gotta record bull**** *** artists as long as im making enough to cover the overhead ($$$) for the first couple of mths.
i have this artist i been working with who has the $$ for the down, and miscellaneous ****,like acoustic treatment, the materials for a vocal booth, etc.. he wants in with me but i dont want a partner.. i want a loan.. i cant go thru a bank cause these student loans from "full sail" are still kicking my ***. basically what i been thinking about doing is offering im a package deal of recording sessions, beats, and mixdown.. basically putting together his whole album for him... but the thing is i think he wants in on a partenership, and i dont want dude thinking that he's getting keys to my joint, and unlimited access 24-7.. this is a delicate topic and i'm trying to figure out how to broach it with him tonight when i have a meeting with him..
the one good thing i have on my side is a lawyer who can draw up the paperwork for me for next to nothing so i can cover my ass in this aspect.. any advice on how to approach this type of business relationship the right way??

[Justin]

Maybe try to find a temp space you can afford now. Get that, work on this customer's project and then turn his payment into a permanent space.

Try finding some local independant artists and see where they're finding space. When I was in college there were several local buildings that used to be warehouses, apartments, or hotels, and had been converted into studio spaces. They'd split the building up into multiple rooms and rent it out by the month to painters, photographers, musicians and such. If you put some feelers out, you might be able to find someplace for rent that is more affordable than your warehouse.

Of course you'll probably have to be clear about noise levels and those type of details going into the lease.

[Tarktones]

Partnerships, no matter how much money potential is or is not there, won't work out unless you have a deep trust with the person or persons you're getting involved with. If you're not comfortable with them having access to all your stuff, then don't take the offer.