GC partnering with a realtor

[Dawn M.]

The question is this: how would a GC set up a partnership with a realtor? The realtor has approached us to help him start a construction company. My husband is in the construction trade, he's a licensed builder and has built 7 homes and flipped 2 in the last 10 years, just enjoying this as side income. So he brings experience and relationships with many subs. This isn't a typical partnership since he has offered to pay us a weekly income regardless of the ongoing projects which, with 4 kids is something I really appreciate. It would be a minimal salary because there is the promise of profit sharing, but no one has put numbers out there yet. The realtor is also looking at doing new construction.  He will find the deals and sell them, we are going to design and remodel. Is 60-40 fair? too greedy? What would you do? Also we don't have truck and trailer, would this be considered a business expense to you guys? Or would we need to buy this? We're really excited about the opportunity this is going to be, we would just love to hear input from others who have already structured their businesses.