Feedback Wanted re: Financial Partner - Posted by Denise FL

Posted by Ed Garcia on March 20, 2001 at 20:33:33:

Denise,

The way I see it, is that your partner is at risk. Not only that, they’re not in control. You are in control, and are at no risk. Yes you’re doing all of the work but if you should fail, your partner will experience the loss and your only loss will be a loss of time. I think any deal that is acceptable to two people is fair.

Sorry Denise, but by the way you have written this post, you give me the feeling that you’re fairly new to the business. So it seems to me, that your partner is taking a big risk.

Do your deal, the day you feel that you don’t need your partner, then part friends. Meanwhile, hopefully to two of you can make some money together,

Ed Garcia

Feedback Wanted re: Financial Partner - Posted by Denise FL

Posted by Denise FL on March 20, 2001 at 13:02:18:

I’ve got the opportunity to partner with someone who wants to be a partner financially ONLY. Then I do the work (hire and work with contractors, find and manage tenants, upkeep, etc.) He’ll contribute to any and all expenses equally, but I do the work, and I take exclusive tax benefits. We split profits equally.

Is this structured correctly?
Is doing all the work worth equal profit + tax benefits?

Please share ANY ideas?