Positive stories of partnerships - Posted by Don

Posted by David Krulac on October 22, 2003 at 19:00:48:

the money guy always thinks that he’s the indispensible component of the partnership. the money guy thinks that he can get anybody to be the non-money guy, but that the non-money guy cannot replace the money guy nearly as easily.

The first time that there is a full blown disagreement, the money guy is going to have the thought that he can walk, and that he doesn’t need the aggravation of this idiot, I mena partner who doesn’t have any money.

IMHO, and its only MY opinion, the best partnerships are where there is equal money, that both partners bring capital, talent, and effort to the partnership endevour.

PS. My opinion is only based on only doing this for my 4th decades.

David Krulac
Central Pennsylvania

Positive stories of partnerships - Posted by Don

Posted by Don on October 22, 2003 at 12:40:45:

I have read a lot of negative responses to having a partner, can anyone share their positive experiences with having a partner.

I’ve had several partners… - Posted by David Krulac

Posted by David Krulac on October 22, 2003 at 17:25:19:

2 of my ex-partners are still very good friends, though when we were partners things weren’t always smooth.

Another partnership almost ruined a good friendship and we didn’t talk for about a year.

But I do have a sucessful partner story. I do some work, maybe about 10-20% with a partner who I’ve worked with for over a decade. Being compatable is important as well as there being a 50-50 relationship. In my opinion partnerships where one person brings all or most of the money, or where one partner does all or most of the work, are doomed to failure from the outset.

David Krulac
Central Pennsylvania

Re: Positive stories of partnerships - Posted by jasonrei

Posted by jasonrei on October 22, 2003 at 17:10:39:

I’ve only been an investor for about 2 years, so here is my (limited) experience with my partner:

We’ve been great friends for over 7 years (we’re both 29). In December 2001 we pooled our resources and decided to buy and sell houses. We’ve done about 40 houses and small multis since then. We have equal access to a couple of joint and business checking accounts with over $100k in them. He is someone I could totally trust with several hundred thousand dollars. I can’t really say we’ve butted heads much about anything, though I remember a couple of times where we ticked each other off pretty good. Fortunately we have thick skin.

We could easily do what we do right now separately, but being in it together I think keeps us driving forward, and we each bring useful skills and ideas to the table.

Also, we each give our ideas about every deal, and the more conservative numbers prevail. I can think back on some deals that one of us wanted to pass on, and now I’m glad we did.

Finally, we’re both single and have no kids. If we had wives that would put more strain on the partnership. We both have girlfriends, but we’re super cheap. And we don’t have any expensive habits. Those things are important in a partnership, I think.

Re: I’ve had several partners… - Posted by Kevin-ATL

Posted by Kevin-ATL on October 22, 2003 at 18:49:32:

“In my opinion partnerships where one person brings all or most of the money, or where one partner does all or most of the work, are doomed to failure from the outset.” – Egads, why!?