rules with your business partner? split profit
Hi Everyone!
Sorry if you see this twice, i am trying to see where is the right place to put my question.
Maybe this is a very silly question but i would like to know
how you guys set up the rules with your business partner.
Example: Let's say one of the business partner is putting the credit and name for the mortgage and all the legal papers, the second person is putting the money (20 to 30k). After the deal is done, fixed, sold back, they make 40k profit ( 20k each)
Now, my point is whoever is putting the money already invested 20 to 30 k, so is kind of getting the money back. On the other hand the one with the credit get 20k also but do not put any money so is not or do not feel such a tangible resource.
Can anyone can share here please how this play, if there is a maybe instead of 50-50, maybe 80-20 profit split till the person that put the money get his or her money entire back. But also this not fair with the one that put his/her name on the deal.
There is way of putting value to this credit/name business person?
i am sorry if i did not explain myself right...just want to get an idea how this work with your partner so it is fair for everbody.
thanks