Partnership - services interest

[Eric Brauer]

Hi All,

I am considering distance investing due to the cost of entrance being a little high in my locale.   I have a friend who has some real estate experience (mainly legal, local knowledge) that could be 'boots on the ground' in terms of understanding the locale, assisting with property management.   He's interesting in partnering and, at least for now, would be contributing services.

Is there a standard capital / profits interest for situations where services are the only thing contributed?  I was thinking 8-10% of capital and profits.  I wouldn't be passive, but would prefer someone local vs. hiring a property manager, at least at first.  Know you could always to a guaranteed payment / consulting fee, but think he prefers having some sort of interest.

Any thoughts about what is fair. would be appreciated.  Go a ways back with this guy, so trying to be careful.

Thanks,

Eric