Real Estate partnerships

[Darren Krett]

We are planning on entering a partnership with someone we know and have a couple of questions regarding how best to construct a partnership. Both parties would want to have equal equity as they would both be contributing equal amounts of money, however if one party does more work, what is an equitable and fair way to represent this?
Eg; finding the property, arranging the financing, finding the contractor, arranging legal documents, sorting out zoning, general management etc
Although we had an initial idea that each item could increase the percentage return of each party (ie; if you find the property you would receive an extra 1.5% on the ROI) we are not sure what to value each potential item