Split between Partners
I have a partner who is going to be financing the whole deal. We haven't discussed the split. Can anyone give me an idea of a typical split between a partnership like this? I will be doing all the legwork, working with everyone to get the deal, and just present it to my partner to sign off on.
We're looking for an apartment complex in Baltimore to hold. All he cares about is the ROI, so in order to make the deal happen, I need to make sure he's happy with the numbers. The other option would be to just ask for a fee so I will have the means to find and secure another deal.
Advice about negotiating terms before we have that conversation so I can be prepared?