Updated over 9 years ago on . Most recent reply
Question about possible partnership
Question about becoming a partner. I have been approached to go in on 16 apartments and 2 retail spaces with a 50/50 split on expenses and cost of the building, but the other guy wants to be the one who manages everything. He already manages over 100 apartments for others and wants to manage these as well, what do I look for on his management costs? Do I pay him what he gets for the other apartments, or do I get a discounted rate being as we are partners? We haven't worked out the details yet and want to be well educated when we start negotiating terms of the partnership. Any ideas would be great. Thanks in advance