Was offered to sell 50% of property before renting it

[Zach Jewell]

Hey All, So here is the deal: 2 weeks ago I closed on a 3 bed 2 bath property for 40k. I put 10k down and had another 2k in closing costs. The painting and updating are looking to come out to 3k. So all in I am looking at 45k and am expecting no less than $850 per month rent. I believe I could sell for 60k once updates are finished. I was just approached by one of the contractors (family member) to buy 50% equity in the house and he would give me a check for 22.5k. Really I think we would settle around 25k after negotiations. I am a bit torn because I hate to give up cash flow on a good deal, but I also know that this money would just go towards another deal... Anyone have any experience with a similar situation? Thank you Zach

[Brent Coombs]

@Zach Jewell, if still torn, tell them you only ever sell if it's for market value ie. 50% of $60k = $30k!

THEN, you win either way! (Remember, you don't owe anyone a discounted price. They came to you!) All the best...