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Updated about 2 years ago on . Most recent reply

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Mario Sanchez
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Partnership percentage question

Mario Sanchez
Posted

Hello bigger pocket community,

I am new to this site and I am hoping I can get some clarification on a question

I am partnering some another person 50-50 to build a house. We will be hiring contractors to do all the work. My partner wants to go to site every day to check and see if the workers do their job. 
my question is that, Is it necessary to do as we have a contractor that is supposed to be in charge of the project. And also should he get paid for this. He is expecting 20% of profit, but I don’t agree since in reality he is not doing anything. There is no real sweat equity. He is just watching these guys work and cannot have them do anything except what the contractor asks them to do. Am I wrong? 
thank you in advance for your help.

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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,510
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

Can you explain how the 50-50 partnership works with 20% profit?

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