Need help here before the discussion goes much further with a deal proposal.
I have a business partner that has a significant amount of $$$$, We just finished a rehab deal, by the way you can see some of my flips(wholesale and Rehabbed homes here --
He wants me to be successful and knows flipping won't be this hot forever, it will slow down sometime.
Eric -- Why don't we start buying some properties to Rehab and Rent out and bring income in that way?
"Man - don't tease me I said" -- Single Family homes or small triplexes or smaller apartment complexes ( 10-30 units).
Question for the forum - What I bring to the table -- I find the properties, network with agents, wholesalers, negotiate the deal, budgeting, use all my contractors, rehab the property, supply the management company ( wife's boss manages 500 doors now) in essence------ Get the DEAL DONE.
He's the money guy - that's it, he's young (50) self made and he said he's looking for something to do, bring in a couple dollars.
SOOOO my question is this -- If you are in my shoes ---What is the ask for a rental pool that if we move on this is equitable....I build up all the sweat equity and he's the money guy.
1-----Every month what is the split on the income --- 80/20..70/30..60/40
2----After a period of 3-5-7 years when we sell the property -- what is the split on the appreciation?? 80/20...70/30
Thanks in advance - I'll look for other forums or if someone could reference a blog about this.
