Partner for second salon suite rental location?

[Emily Rose]

Hey everyone,

I own a salon suite rental business in Ga. I rent rooms in my building for $350 per week= 218k annually. My current salon building is to max capacity and have girls on a waitlist to rent. I want to buy the property next door and build a space for additional 15 rooms @375 =273k annually. I got approved for the purchase of the land and buildout with an sba loan but don’t have the cash to put down. (100k) I have an investor willing to put money down but they want half of the income from that location and to manage that property. I feel that is high, but I plan to do more locations and think this could help me expand faster than I could on my own. They also have more experience in renovating and construction. Or maybe i could offer 50% for a certain numbers of years then a fee for managing? Thoughts? Thanks for any feedback!