Is not wanting a partner to split profits with a bad mindset?

[Nick Cockrell]

My father and I are thinking about getting a partner to help with the down payment on a fourplex but are hesitant because of the need to split the profits. I think it is a bit greedy, but this is our first with potential for great returns

[Ned Carey]

@Nick Cockrell You are borrowing 80%  from the bank right.  Why is it OK to split profits with the bank but not split profits with a partner? 

There are many ways to structure this. You may have a partner buyout agreement. The split doesn't have to be exactly as the amount of money put in. If you found the deal and you will manage the deal and the only thing the partner provides is money then it doesn't have to be an even split.