that way if i am sick one day or i am busy or out of town he can take care of things so is it possible to have a partner when you are a land lord ?
2006-12-28 13:14:50 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The problem with a partner is no-one is ever happy with the way that turns our. Either he spent all his time painting and you didn't do squat, or you put in all the money and he didn't do squat.
Either hire a property manager or just establish a relationship with a contractor you can trust.
2006-12-28 15:51:37 · answer #1 · answered by oldfatcowboy 3 · 0⤊ 0⤋
In all of my business experience, I've seen partnerships as mostly an intense battle over profits and power. If there's a way to give yourself extra leverage as a 60/40 partner, perhaps you can work that out.
Goodluck!
2006-12-28 13:19:40 · answer #2 · answered by Jessica L 3 · 0⤊ 0⤋
Forming a partnership is the wrong way to go.
All you need to do is to get someone to act as your agent and then notify the tenants as such. That way you are still sole owner of the property.
2006-12-29 01:58:52 · answer #3 · answered by AJ 7 · 0⤊ 0⤋