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Updated about 3 years ago,

User Stats

34
Posts
14
Votes
Wes Barnes
  • Rental Property Investor
  • Lubbock, TX
14
Votes |
34
Posts

Dispute with partner

Wes Barnes
  • Rental Property Investor
  • Lubbock, TX
Posted

This post is in regards to partnerships!

I did a fix and flip last year. It took me over a year to purchase, because the guy I originally bought the house from was NOT the owner. Lol However I had a Friend that wanted to get into investing and because the deal was only $4,500, I brought my friend on. We completed the project and it's rented. I approached my friend to buy him out we had a verbal agreement for $9,000 however a few days later he said that was not enough and wants more due to the market. Can anyone please give me advice on how to proceed? I'm currently going through a divorce in NM, so between my partnership and ex wife I could lose alot. Please any advice would be great!

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