Partnering with family

[Ben Morris]

My brother-in-law approached me about partnering up. We both want to grow and be very successful in real estate. I live in an investor friendly market, he has an investor friendly bank account, but his market isn't as friendly. My bank account isn't as well equipped for investing. What is a fair way to divide the profits if he finances the entire purchase and I do all the hands on work. Meaning I do the due diligence and manage the rental property. I really want to partner with him because I believe we can go further together, but I want to be sure we are both getting a fair deal.

[Derrick E.]

Don't do it. Sounds awesome right now, but what happens when something goes wrong? What happens if you guys have a falling out? To me, it isn't worth sacrificing that Christmas dinner with family.

My brother wanted to get started and wanted to partner up. I told him the only thing I would do is give him a loan, but I wasn't going to mix business and family......and I dont. 

I don't like it, but sometimes in business you have to stand your ground and be an *******. Makes it hard when that is your family member.