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Updated over 3 years ago on . Most recent reply presented by

User Stats

17
Posts
1
Votes
Jeremy Salo
  • Rental Property Investor
  • Anoka, MN
1
Votes |
17
Posts

Terms for partnership

Jeremy Salo
  • Rental Property Investor
  • Anoka, MN
Posted

Hello all, so myself and 2 others are currently raising capital for a BRRR. We have been raising capital and gaining knowledge for about 4 months now. Our goal is to have 15k each to put towards this project by July 1st 2022. That being said, 2 of us are working hard to gain knowledge/connections and the other hasn't done much work at all. Having known the other person for a while, I don't think he's going to be reliable in putting in the work down the stretch. Maybe I should have chosen my partners more wisely, but this dynamic opens up an opportunity. Originally, we agreed on a 33% split for everything, but im going to renegotiate. I'd like to have the people who have shown a work ethic to commit to an even split of the work, while the other person is more cash but no work. This works out as his finances are in the best shape out of us and he has a connection to a great banker. My question is, how would you structure terms if you were one of the 2 people that are working hard? Like what percentage should I reasonably ask for? I'm spitballing 25%, 37.5% 37.5% if we're putting up 20k, 15k, 15k respectively.

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