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Updated almost 9 years ago, 02/26/2016

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.

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