Starting Rehab Company with Partners

2 Replies

I’m considering starting a rehab company with a few fellow investors/agents. We have a contractor lined up we would pay a salary. He would work on our investment projects and client listings.

I’m looking for insight on the agreement we should consider. Specifically, how should we arrange partners’ access to the services?

Anything else we should consider besides compensation, insurance etc?

Thanks!

Originally posted by @Michael Leeson :

I’m considering starting a rehab company with a few fellow investors/agents. We have a contractor lined up we would pay a salary. He would work on our investment projects and client listings.

I’m looking for insight on the agreement we should consider. Specifically, how should we arrange partners’ access to the services?

Anything else we should consider besides compensation, insurance etc?

Thanks!

Partnerships are very difficult and the more people you have involved the more complicated things can get. You should hire contractors turn key. Theres no reason or real benefit to partner or put one on salary. You can also keep the investors as investors and not partners. That being said if you do decide to go the partnership route you want to make sure to clearly define everyones role, responsibilities, capital contributions, loan guarantor roles, decision making authority and exit from the partnership if someone wants out. Best thing to do is hash all these things out amongst the partners then go to an attorney to fill in the gaps and draft all of the documents.