Need Advice

[Stephen Dickey]

Good morning . 

Newbie here in Charlotte NC who is on the verge of getting my first deal. I am just looking for advice on whether or not I should get involved in something . Any feedback you could provide would be very helpful.

I am working on a deal with a potential partner who has all the systems lined up as far as a way to really expand his real estate business and take off. He was looking for a partner and we connected at a REI meeting . After some collaborating he invited me to join his partnership and help grow his business. He has some key ideas that could really be valuable down the road .

We came across a deal (profitable, I won't get into details) and it would be my first one. However he is wanting me to sign into his LLC at a 70%/30% split. His reasoning is that he has an asset already in the LLC valuing $60K he is wanting to use for equity and the fact he is putting 5k in on funding this new deal compared to my $2500.

I am brand new to this business and while I want to dive in, I don't want it to come back and  bite me In the you know what. I understand his logic but I am concerned about the split . Any ideas ? Feedback?