Question regarding profit split

[Debbie Kleier]

We purchased a property and provided all the funding for repairs/work. We have also done at least 50 percent of the work, closer to 70%. We had a friend helping with an understanding that we would split profits with him. He has stated “he knows we will be fair with him” so now my husband and I are trying to determine what is fair. With the way the market has gone in this area we will make a sizable profit. My husband thinks we should do at least at 60/40 split (he’s even mentioned 50/50. I think since we have taken all the risk and larger share of work load it should be a 70/30 split. Can I get some opinions