All Forum Posts by: Account Closed

Thanks. We're looking at investments in the inner coastal area of North Carolina. I thought I was fairly savvy. I was wrong. I didn't know that Zillow and Opendoor are buying up properties. I appreciate your work and sharing it with the rest of us.

Following. I'd be glad to know the answer too!

Bruce Lynn, thanks for another response. I didn't provide enough detail. I will now. We are in CA. I will move to NC to oversee this deal and, downstream, others. 

I agree. 100%. An attorney needs to draw this up. These can be flips or buy and hold properties. While I know others advocate long-distance purchase and management of acquisitions, I'm not a fan. There are certainly very trustworthy (potential) team members with "boots on the ground" but that is not substitute for personal, upfront evaluation. We all see the world through our own lens.

I doubt he'll go for that split. 85%-15%. But you've really helped me in putting out a number. Thanks.

Bruce Lynn, I appreciate your advice but it doesn't answer my question. I've known this person many years. He is not a stranger. We will be investing on the east coast and we live on the west coast. I'd love it if others who have partnered up would share their experience on the financial split. I cannot represent him as his agent. I'm not licensed in the target state.

My business partner is a Brit. He has the downpayment for the initial investment. 20%. I have the expertise. Am a realtor. Will identify the property, and either flip it or rent it out. What should be our partnership split? We've not yet done an agreement and I don't want to do much more before we have a contract. I'm hoping to do a number of deals with him. He describes himself as "the silent partner."