All Forum Posts by: Jackson Long

So it is time for us to put on our big-boy-pants and go from a couple of buddies doing a thing to real live businessmen running a company.

What kind of lawyer do we work with to setup the company?  Not just creating it- but knowing what kind, how to structure, how to word our partnership... what happens when one of us dies or we disagree (or one of us dies because we disagree- I AM LOOKING AT YOU SEAN!)...  Etc.

Like- string do I put into google?

Then how do I vett the ones I see and get the right kind person?

I actually just popped into this forum to ask a similar question!

I used Upright Electric 

And was very happy- but it seems like he dropped off the earth.

Previously I used Dependable Electric

But he tended to be booked out far- not sure what his policy is on emergencies.

I used Sweet Home Electric for a semi emergency when I was out of town (tenant found them) and they were fine, but...  Okay this might be ridiculous but...  The name brings to mind classic rock and the guy has a Jamaican accent and the two together just made me feel like it was a more... casual... operation than I wanted.  But not so bad that I won't use him again...

Sorry I had to delete the phone numbers or it wouldn't post- they are all right there on the Google Machine.

Sounds great- thanks James!

The thing I keep coming back to is: I shouldn't feel like I've made myself into an indentured servant.  This gave me good stuff to think about regardless.

Hey folks,

I am in the market for an attorney and an accountant.  Referrals?

Thanks,

J

I love these guys:

http://www.huntsplumbing.com/

Every experience I've had with them has been superb.

@Bill Gulley Your reply is great.  The tone of the situation between us is much less dark than I think it sounded.  And the relationship is pretty solid, but I might be looking at the blonde.  That was actually the sort of thing I wanted to hear- am I right? am I crazy? am I looking at the blonde?

This is basically a rewording of another post I did.  The other one didn't get much traction and I would really like more input.  So I am writing it up a bit differently in hopes of making it more interesting.

My partner and I are buy-and-hold-brrrrrrrrr investors.  He writes checks and keeps his day job.  I work full-time to manage and build the business.  Neither of us had any experience when we started.  I now have a lot of experience- he still has none.  As such the relative value that I contribute to the business has grown substantially.  I would rather continue to work with him than move on- but I think a renegotiation is probably due.

With this sort of arrangement- what sort of split do you think is appropriate?

Nods.  It would all rubber band back to normal.  Just thought it was an interesting anomaly.

If your income stays the same, but the market spikes and value goes up- your cap rate goes down right?  Kinda weird.