Partnership, Co-investor advice for HOTEL/INN Business
Hi, I'm Nickson Rio from Philippines. I'm 27 years old real estate investor, currently have 6 rental units already.
I would like an advice regarding my current opportunity.
I just got a partnership opportunity for an Inn business. Here's the scenario:
The owner of the building wanted to partner with me and let me manage the business. We will co-invest in the renovation of the building. The building is a 5 year old 4 story building in commercial high way. It was not managed properly resulting to no profit.
Since, I was not the owner of the building. What would best advice you can give in terms of profit sharing between me and owner?
My plan for the building is to make it an INN since it does not have enough parking area for an office type o business. Also the location of the building is near to central business area, airport, etc.
This is my first post here, I hope you guys can help me before I go into this project.