What should I tell my Dad?

[Christian Walker]

Hello,

So I am kind of stuck on an issue that I could really use your help on. So to have a quick recap, I am currently an investor and have 2 properties with one if them being a partnership with my dad. I have a ton of knowledge but not much money. My dad is about to lose his job in about two years and wants to get enough rentals to get him safe. He asks me for advice now with what he should do. He is semi knowledgeable about the subject. He has 1 property of his own. I have a lot of knowledge and pretty much know what I’m doing. I want to help him but go in half’s on the deals we do together. But he thinks that 50/50 is too much. There are other investors that have come to me and have said that they want to go in half with me. But I want to help family out first. What could I say or do to convince him that 50/50 would benefit him and me. I’d hate to go and leave him high and dry but I still need some advice.

[Jim K.]

It's your father. It's OK to lose money in order to help your father. Sooner or later, with more experience, if what you say is true, your father is going to see that what you are saying is fair and agree to adjust the share percentage accordingly. But for now, do it his way.

Of course, I'm saying this from a different perspective from yours -- my dad's dead. He died when I was in my twenties. I don't think you're factoring this possibility into your calculations to make more money, and you should be.