How to structure additional partnerships

[Kellen Driscoll]

Hey BP,

I have an interesting situation in where the partner for my last deal (strictly an investor) wants to become more active in the following deals. In our current deal he receives an 8% preferred return and the additional cashflow is split 50/50 between us.

In follow deals he has stated that he has his own investors that want to contribute money and he would like to become more active a deal with me in basically a 50/50 split. The thing that worries me is that one of us is going to end up doing all the work or the deal with become complicated with both us juggling different things and always requiring something from the other person.

My question is how can we utilize his investors funds while also keeping him in the deal. My role is clear...Acquisition, management and everything in between. What kind of split setup could work in this scenario?

Thank you!

Kellen