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Updated over 3 years ago, 08/16/2021

User Stats

38
Posts
16
Votes
Michael Colebank
  • Rental Property Investor
  • Flemington WV
16
Votes |
38
Posts

First time partnership

Michael Colebank
  • Rental Property Investor
  • Flemington WV
Posted

Hi Everyone, I'm buying a mobile home park with a friend of mine. We both have multifamily experience. Neither of us are lazy,and we're very enthusiastic about the deal. Huge potential. I'm taking care of government officials and marketing/ big picture, along with filling the park. He's got a contractors license and does excavation work. So he's taking care of infrastructure, dealing with utilities, surveyors, and the moving in of new homes. Profit split is 50/50 . But we'd like to have good verbiage to protect our friendship and the partnership in the future. What should we be including in the partnership agreement to protect us down the road?

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