How to stucture a partnership/note.... - Posted by Mike

Real Estate Investing
#1

Posted by Jon Richards on March 23, 2001 at 19:40:21:

Mike:

#1: Any agreement must in writing
#2: Partnerships are difficult, if things work out you feel you did not need the partner; it they fail you tend to blame the partner. Be careful.
#3: I would offer the partner a percent return rather than any involvement in what you are doing. Or give him 20% of any profit on any deal.

In short, I would make him a worker, not a partner. Give him fair compensation when you make money.

Jon Richards
NoteWorthy Publisher

#2

How to stucture a partnership/note… - Posted by Mike

Posted by Mike on March 22, 2001 at 19:53:21:

I hope someone can give me some ideas. I have friend that live’s about three hours from me in an area that is full of Lonnie type deals. Here is my question, if I supply the funds and he does the leg work (we both want to build portfolio’s via owner financing) how should the percentage be structured? I know that some of the answers will be “up to you”, but I would like any other input/expierence’s that is out there. Thanks for your time.
Mike