Getting A Partner
I am coming across more deals than I can handle. Any suggestions on getting a money partner? What sort of paperwork would be involved to make everyone safe? Who's name would be on the warranty deed?
If your answer is "All of this is negotiable" then please give an example of what you have seen. What is the industry norm? 50% of the profit for the money partner even though he only puts out the repair money?
JohnCl
Firstly every successful partnering I have seen works when they either split after closing or have a LLC in place for longer terms. And yes it is all negotiable. lol.
Ususally when its split 50/50 profit, one person does all the work, the other does nothing but supply all the monies needed for the project. It sounds unfair, but the golden rule applies in every instance. The one with the gold makes the rules.