Frustrated with my Financial Partner

[Roman Pak]

Several months ago, I entered into a partnership with someone that was offering to put up all of the money for my investments. We agreed in the beginning that we would be flipping houses for a 60/40 split. I get the 60. I would provide the deals, real estate knowledge, and my credit, and they would provide the capital for the flips. There was a verbal agreement that my partner would allow me to find the deals, analyze them and make the offers on the properties that I felt were good deals.

Over the last two weeks however, my partner has started forcing herself into the deal analysis and has even started to look for deals herself. Yesterday she told me that she would not put up the capital for any deal that I find unless she gets to see the property with my agent first. If I fail to do so, she will want to see the property with her own agent. 

She has little to no experience in real estate, other than her own property, and her "deal analysis" is based on numbers and calculations that are completely out of left field. I don't feel like I'm in a position to argue or tell her no when it comes to her requests. I'm completely frustrated, and frankly, a bit pissed off. Any suggestions would be greatly appreciated. 

[Jean Bolger]

You don't say what price point you are looking at , but I don't blame her for shying away from a rehab deal that provides under 20k of profit. That's darn thin. And it's her money. It sounds like she is fundamentally more conservative than you, rather than "scatter-brained." She obviously doesn't trust you 100% yet. Is there a reason for that? What is your background/experience? Have you completed a lot of successful deals using your parameters? If so, I'd imagine you can go over the numbers on those deals with her and explain your methodology. If not, and she is your best source of funding, then you might need to keep digging until you find a deal that she is comfortable with.

Or you might be better off finding another investor.