Posted by Mark on November 07, 2000 at 24:30:15:
There really isn’t a template for partnerships. Each deal is going to be different and how much each person gets should be based on what each person brings to the deal. Some of the areas to consider are:
Who finds the deals?
Who funds the purchase of the property?
Who funds the repairs?
Who does the repairs?
From your post, it sounds like you will find the deals, fund the purchase and the repairs, and you will do the minor repairs. The contractor partner will handle large repairs. If this is the case, why do you need him? Consider just hiring a contractor for the deals in which you need a contractor. Why pay him part of the profits? Although partnerships can be good, if you can do deals on your own without a partnership, you are much better off.