I'm wondering what kind of % or structure our partnership would fairly have under the following circumstances. The current situation is I bring 100% of the capital along with actively managing the properties (as well as any labor etc.). We're looking to both invest in multiple properties under the same business. He would be actively involved in these deals as well. We both work extremely well together, we've known each other for over a decade. From experienced investors, what structure would make sense here?
One thought I had was to be more hands off and allow him to be an active property manager (no prior experience, he would need to be versed in this) ... Another thought was to do a 80/20 split for equity and keep ourselves active until he's ready to step up and take more authority and I take a step back from management - in which case we'd do something like 60/40 ?
Is he signing for the debt? What exactly is he doing? If you're managing the properties and bringing the capital, it sounds like you've got most of the deal covered.