Real Estate Partnership

[Mallory Wilkins]

Just passed the RE license exam and am moving to a HCOL area to partner with a friend to serve the local market.  

My husband is a contractor who builds specs and we also buy, renovate and flip our homes every two to three years. 

My question is what things should she and I work through on paper with our partnership? 

I want to omit our personal properties from the 50/50 split arrangement for sure. I didn’t plan to omit his builds but should I? I feel like I am not bringing anything to the table otherwise considering I have no network there yet and she is willing to share her listings with me...I feel I should do that with her on his specs. Do any of you have a 50/50 partner split? How did it work? What do I need to prepare for?