How to divide up the work with a partner?

[Jonathan Goldberg]

A close friend of mine and I have both done a bit of real estate investing. Now, we have decided to pool resources and go after some larger opportunities (multi-family, buy & hold) together. 

I remember in one of the podcasts there was a discussion about dividing up the work between partners. That it is really important to work out who is resposible for everything at the very beginning. 

So I have two questions for the forum:

1) Does anyone remember which podcast that is?

2) What are all the things that should go on the list? (Or does anyone have a list they can share?) I want to go into as much detail as possible. 

Once I have compiled my list, I will share it on the site or in google docs.

Thanks

Jay

[J Scott]

If it's not obvious how to divide up the work, or if this is something that can't be figured out through a discussion with your partner, then you're probably not ready for the partnership.  

I'm not sure how anyone else could tell you the best way to divide the work given that nobody here knows:

- What your individual skills are

- What your individual interests are

- How much time either of you have

- What your relative locations are

- How the equity is being split

Show me 10 different people and 10 different properties I might consider partnering on, and I'll show you 10 different divisions of responsibility that make sense.

Nobody else can give you this information... (at least not accurately)