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? 

[Stephen Dickey]

@Rico S. . It actually turned out great, we covered all ends and we were able to close the deal! Seems like eveyrthing is going well to this point and we are actually working on closing our next deal! Thank you Everyone for your responses!!!