Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Dan ODonnell
  • Chicago, IL
1
Votes |
4
Posts

Need opinions on investment

Dan ODonnell
  • Chicago, IL
Posted

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

User Stats

257
Posts
58
Votes
Isaac Blocher
  • Property Manager
  • Orlando, FL
58
Votes |
257
Posts
Isaac Blocher
  • Property Manager
  • Orlando, FL
Replied

"And if anyone forces you to go one mile, go with him two miles." Mathew 5:41

@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. 

Loading replies...