Deal Structure Question (% Split between partners)
I've bought 2 duplexes with a friend and formed LLC's with operating agreements etc.. We both put 50% of the downpayment and own the properties 50/50. For these duplexes I found the deal, the real estate agent, the financing, insurance, the lawyer and setup the LLC banking so I feel I did more than 50% of the work. It has not caused an issue because I value the learning I had to do to complete the above mentioned items.
My question is this... on any subsequent purchases where I'm pulling more than 50% of the weight, how much additional percentage (assuming 50/50 downpayment) would the other legwork be worth... 55/45 or how would the legwork typically be reflected in the deal. Thanks in advance, looking to buy more property with other parties and wanting to ensure the work I put in is reflected accurately.
Thanks in advance.
My question is this... on any subsequent purchases where I'm pulling more than 50% of the weight, how much additional percentage (assuming 50/50 downpayment) would the other legwork be worth... 55/45 or how would the legwork typically be reflected in the deal. Thanks in advance, looking to buy more property with other parties and wanting to ensure the work I put in is reflected accurately.
Thanks in advance.