Posted by dewin on July 27, 2003 at 22:58:08:
normally the cost of management is between 6% to 12%, i think 10% if one of the most commons, try to talk to one of those management company see what they are charging, they maybe you could go from there, and also is a good way to explain your father where you are coming from, remember time is money, am really a novice but thats what i would do
Need Advice on Partnership - Posted by Frank Notaro
Posted by Frank Notaro on July 27, 2003 at 19:05:22:
I already own a three family home and I?m looking to purchase another. My father wants to go in as a silent partner on the deal. We would each put up 50% of the down payment and closing costs, but I would own a larger share of the property. What would be a fair way to divide the ownership (60/40, 70/30, 80/20)?
I don?t want to the management of the property to take up all of my time without a nice profit, but I don?t want to take advantage of my father either?
Frank N.