- Joined
- Aug 26, 2010
- Messages
- 380
What is the fair split on the following scenario: I have a multi family zoned plot of land with no mortgage on it sitting beside a complex I own. I'm looking for a JV builder partner who will put up the building (23 units) using their own operating line of credit or financing which is paid out once the building is tenanted and has the final mortgage placed on it. My contributions are the land and the long-term management of the building. The builder's contribution is putting up the building using his own financing and the equity value of the land.
What would be a fair split of ownership for the long term? Divide it 45/45 with 10 % going to whoever qualifies for the final mortgage?
Thanks for all input
What would be a fair split of ownership for the long term? Divide it 45/45 with 10 % going to whoever qualifies for the final mortgage?
Thanks for all input