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Updated over 11 years ago,
How to divide this up?
My brother and I want to invest in a rental unit. He has the money to invest but I have the credit and am local to the property (i.e. will be managing the property).
So suppose he put in $50,000 towards a $400,000 property and I took the mortgage in my name and managed the property, what would be an equitable split in any excess monthly proceeds and an eventual sale of the property? I was thinking 50/50, but that maybe too lopsided in my favor...
Thanks.