Selling my shares back to my partners

[Ryan Pemberton]

I've been in a partnership for about 4 years. Long story short, These two guys were the capital people and I was the boots on the ground/grunt worker, and I found the deals and managed the rehabs. So our operating agreement put me at 20% to each of their 40%. There is an operating agreement in place but the buyout section is vague. We have since refinanced with a bank loan in the LLC, of which I'm 20% responsible. The properties are managed and make good returns. We take small distributions monthly and keep a comfortable savings account for any emergencies. These guys were born into money and have enough cash on hand to buy out a descent portfolio and just earn better returns without me in the picture. They sent me two different options to buy out. One was asset based, which was basically my 20% ownership, and one was EBITDA, which was my potential earnings for 5 years. It seems to me like I'm selling both of these figures and the number should be a combination of both, not either/or. Am I out of line here? Also, EBITDA stands for earnings before insurance, tax, depreciation and amortization. The number they sent was AFTER insurance, depreciation, tax, and amortization was deducted. I'm out of my element and really need some advice from someone who has traveled this road. As always, I appreciate it.