- Joined
- Dec 6, 2015
- Messages
- 49
Hello,
I am considering starting a joint venture with a partner. I would be responsible for the on sight construction and management of the project, as I own a general contracting and plumbing company. The other party would finance the project and be responsible for the business aspect of things: finding properties, crunching the numbers, dealing with financing, etc. This is the first time I have ever considered a joint venture and want to make sure the deal is fair for both parties involved and that I am protected. Any advice regarding profit sharing, contracts or any other useful information would be appreciated. The proposed profit sharing plan is below.
other party Myself
Capital 50%
Mortgage 10% 10%
Asset Management 5% 5%
Real Estate Expertise 10%
Construction Expertise 10%
total 75% 25%
I am considering starting a joint venture with a partner. I would be responsible for the on sight construction and management of the project, as I own a general contracting and plumbing company. The other party would finance the project and be responsible for the business aspect of things: finding properties, crunching the numbers, dealing with financing, etc. This is the first time I have ever considered a joint venture and want to make sure the deal is fair for both parties involved and that I am protected. Any advice regarding profit sharing, contracts or any other useful information would be appreciated. The proposed profit sharing plan is below.
other party Myself
Capital 50%
Mortgage 10% 10%
Asset Management 5% 5%
Real Estate Expertise 10%
Construction Expertise 10%
total 75% 25%