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Updated almost 9 years ago on . Most recent reply
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Need opinions on investment
Hey there everybody I am hoping some of you can help me out with your knowledge. I have been saving up money to invest into a property with my uncle who buys and flips condos and houses. We are at a disagreement that may hinder this from ever happening, which is not good for me.
Say the total cost to pick up a **** condo and rehab it from start to finish is 50,000. 40,000 is his and 10,000 is mine. I put in 1/5th of the investment and should see 1/5th of the profit. Therefore I believe I should do 1/5th of the total work. If he puts in 40 hours a week of work on the condo I would put in 10 hours of work a week, because that would make 50 hours of total work being done, 10 hours being my fair share. He believes I should be doing just as much work as him. I believe that is wrong, unfair and not how an investment works. Please let me know your input.
Most Popular Reply
@Dan ODonnell It sounds like your Uncle is helping you out. This is a business relationship but it is also so much more. He is training you, helping you, leading you. If I were you, I would be grateful for his help. So as Matt. 5:41 say, Go the extra mile and work harder, longer, and more fervently then your Uncle. Impress him with your work.
But don't just have a working attitude on the out side and a angry attitude on the inside. Make sure you have changed your mind about working in this project. If you don't change your thinking, the extra work will mean nothing and your Uncle will see right through it.