What is the math on a Partnership deal

[Keith Doe]

Hi everyone! I was on Brandon Turner's webinar yesterday and the question of partnering with another investor came up, and Brandon gave the answer of splitting the profits. I am looking to go a little deeper.

Lets say I had a partner fund the down payment for a deal at $20k, and we are splitting profits 50/50. Let's say the deal nets $1000 in profit a month and based on terms, I would take $500 and partner takes $500. The way I see the math on this deal is it would take a little over 3 years for the partner to make his money back. Is that how this would work?

Looking for feedback, and hearing about how you may have structured a partnership deal that made sense for everyone involved. Thanks!