I’m starting a partnership with my brother-in-law. We are going to do BRRRRs. He lives in NY and I live in SC, which is where the BRRRRs will be done. I plan to do a lot of the work myself. We both have the money to make the cost a 50/50 split. Any suggestions on how to divide this since I will be doing the majority of the work? I will hire contractors for the work can’t do. Thanks Tim
Hi @Tim Mackinem ! If you'll be doing the work, just mark up the work to make a profitable margin as a contractor and then you should be fine. However, you'll be paying yourself, so keep that in mind. Your BIL will pay you as he would any other contractor. If that option doesn't work, I would suggest dividing up the responsibilities, there are some spreadsheets that have a lot of this divided up on the File Place. Once you decide on the responsibilities, that should help you understand the amount of work involved and the % breakout. If both of you are putting in the same work and responsibilities, and beyond that you are doing the renovation, I'd suggest you being paid as you both would pay a regular contractor. That would keep it very even.
Thanks for the feedback.
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