Question: How would you structure a salary for a founding partner?
Hello, BP family. This is my first time posting to the forums, but I have been a longtime listener of the podcasts on YouTube.
I have two partners across my real estate ventures. All three of us have equal equity across our companies. We have a company for holding our rental properties and a company for flipping properties. All 3 of us have W2 full-time jobs, and we all aspire to work within our real estate companies full-time (currently 25-year-olds) within the next 5–10 years. So far, we have been 33% each on all profit and risk sharing; that can't remain the blanket rule of thumb if we have one partner giving 40–50 hours a week while the other two give, say, 5–10 hours. We feel that we could manage more simultaneous projects if we had a full-time member who was constantly deal-sourcing and keeping in touch with contractors and tenants.
My question is: how would you think to structure the salary and/or commission for this first partner in a way where we know they are taken care of but we aren't hindering the growth of the companies?
Thank you in advance for all feedback.
Koda