Not sure if this is the right category, but I am looking for real estate lawyer and CPA recommendations for southwest WI, including Madison. A friend and I are looking to start a business partnership, but I am not sure the best structure. We are considering multiple options. We each bring different strengths, but how do you value each of those? I will bring more money than him, but he has more connections in the area and will likely provide more of the labor. I will provide some labor and likely will work on finding more investors, although he will bring some as well. Should we just go 50/50 and use arbitration for disagreements? Should one person have majority ownership at 51% and the other 49%? Should we base percentage on how much value each person brings?
We also talked about potentially doing each deal as a separate structure in case we are in different positions for each. For example, he has a lead on an off market duplex that we want to get. I will bring the cash, but he brought the lead and will put in most of the labor. I probably will handle the leasing and rent collection. We are also considering a larger multifamily that needs some work. He likely won't bring much money to that deal, but again will likely do more of the labor. How do you value what we each bring?
Any suggestions on ways to structure a partnership? Thanks
Sorry. I realize I titled this for one thing (recommendations for lawyers and CPA's), and then proceeded to ask additional questions about potential partnership structures. I appreciate responses to both.
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