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Updated over 1 year ago on . Most recent reply

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9
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Elijah Faas
  • Investor
  • La Crosse, WI
5
Votes |
9
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In need of life advice with a real estate partnership

Elijah Faas
  • Investor
  • La Crosse, WI
Posted

So this may be a long winded question, but I am in need of some life advice.

I am an 20 year old real estate investor with one duplex. My W-2 is an electrician and I own a window cleaning company that I started about three months ago. However, an opportunity has came up in my life. 

I was doing door to door sales for my business when I knocked on a guys door who happened to own a CPA firm and real estate investing business with 200+ properties. He works solo besides a property manager and maintenance people. He is 74 now and is not wanting to slow down. Anyways, I cleaned his house and he then wanted me to clean the windows of his office building. I of course did them and when I was nearly finished he stopped me and essentially offered me a "partnership" in the company with an equity stake. We later had a more formal in person meeting where we talked more. He said he would offer me a full time job as a partner helping with marketing and building the business. I asked him "why me" he explained that I was punctual, on time, and very driven. 

To take this opportunity, I would have to leave my full time electrician apprenticeship job that I have been working my entire adult career towards. It is not a dream job but it pays the bills. I have 2.5 years left in my apprenticeship until I am a Journeyman electrician. 

Long story short, I am looking for some advice. This opportunity seems too good to pass up especially when my goal is to own a real estate investing company. The only issues are that he is expecting 45 hours a week in office, no working from home, when I am very used to not being stuck in an office as an electrician. He would also prefer I put my personal RE investing on hold and put a halt to my business.

I know this may be super random but any advice is greatly appreciated. Thank you everyone for your time.

Most Popular Reply

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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
6,948
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6,603
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
Replied

A "partnership" with an "equity stake" is very far from a part time job at 20 bucks an hour. I would forget the guy he is blowing smoke and wants to take advantage and control you!

You are doing really fine on your current path! All the best!

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