Do so much work and be so good that it would be irrational and impossible for him not to re-negotiate at 50/50.If losing you on the project means not finishing, I’m sure he’ll come to that conclusion.Less percentage person means it makes it easier for that person to step away for a better offer, he should understand that.

They’ve become increasingly unstable and I am in fear that they will do something irrational and dangerous like this.

As research coming in from behavioral economists nowadays tells us we make purchasing decisions based almost entirely on our emotional temperament, looking into figuring out ways to set myself up through a more irrational lens of stress and fear instead of practical reasoned data started to make a little more sense.

This competition leads to bidding wars that inspire emotions amongst buyers, that lead to irrational decision making.

I would be going after assets that are holding steady, appreciating mildly or falling in value for the wrong reason (i.e. irrational fears). 

There's an inverse relationship between cash flow and appreciation.Understanding what's the appreciation/IRR at year 5 is not terribly difficult, all GP/REIT in syndication is doing that and having some assumptions.

As you hear when people talk about the stock market or other volatile assets, you lose money when you make irrational emotional decisions.Good Luck, Persistency and Consistency win the day.

People get emotional (and irrational) over money, and an executed document protects all parties

I think I will look to create trust with a private buyer(s) and when I truly need $$$, I can sell a note(s) at my "irrational" evaluation of "Par."  

My gut feeling tells me that we are in a period of irrational exuberance.