partnership with Father-in-law???

[Sheldon Gudde]

Hey All!!

I married into a real estate family some years ago. Via BP I’ve contracted the “bug” as well.

My father-in-law has asked me if I would like to get started by working with him on small deals. He wants to front the money for deals under 150k, while I learn the ropes but also provide contractor oversight and labor within my abilities.

Due to our expensive local market we’re considering using a family friend real estate agent with off market deals in a cheaper market 5 hrs away. Between myself and father in-law we are in the community 1-4 times a month for business or pleasure.

Would you pursue this?

How would you structure a business with a 70 yr old family member?