Starting a Property Management Company Alone or With Someone Else

[Brian Mitchell]

Hello BP, I am looking to start my own PM firm here in Maine. I have secured a handyman that has expressed interest. He's capable, trustworthy, on time, and presents himself quite well. I have had a hard time finding a handyman that hits all the marks. I've built a pretty good network of other services. Because I want to create a long-term relationship with my maintenance/handyman person I want to make an enticing offer. This led me to the idea of creating a partnership, or giving a portion away. The company isn't set up yet, but I was thinking about offering up 10-25% of the company for him to handle all the maintenance calls (night and day) while I focus on the rest... hustling for new properties, networking, building up contacts for services, etc. My question is, do you feel this is the right move to create a long-lasting, secure situation? Any other suggestions outside of sharing the company? My goal is to grow the company to a decent size so laying things out appropriately now is crucial.