puls1234 0 Report post Posted May 15, 2008 Hi everyone! I have a professional woman who I helped sell her home on a rent to own. She really loved what I did and wants to become part of my business as a partner so to speak. I don't want her as an employee so how would you structure a deal to truly benefit me and my company? I feel that my 7 plus years or so lease option experience should be compensated for and maybe a 50/50 split of option money for the deals she brings to the table. What do you think? How would you go about it? Thanks for all your help! Pete Share this post Link to post Share on other sites
West Coast Girl 1 Report post Posted May 15, 2008 Hi everyone! I have a professional woman who I helped sell her home on a rent to own. She really loved what I did and wants to become part of my business as a partner so to speak. I don't want her as an employee so how would you structure a deal to truly benefit me and my company? I feel that my 7 plus years or so lease option experience should be compensated for and maybe a 50/50 split of option money for the deals she brings to the table. What do you think? How would you go about it? Thanks for all your help! Pete Hummmmm, Pete, Did you digest what you wrote?????????????? I have a professional woman who I helped sell her home on a rent to own. She really loved what I did and wants to become part of my business as a partner so to speak. WATCH OUT -- SHE'S A SMART COOKIE! -- She's out to "steal" or "clone" it! probably at your expense! First of all, once you understand this / YOUR business, you will NOT EVER divulge it EVER! However, you can hire them on as an emplyee doing ONE or TWO SPECIFIC tasks! In the meantime, you will have others doing DIFFERENT tasks at hand! Meaning, you will NEVER EMPLOY 1 PERSON doing OR handling all of YOUR BUSINESS matters! That's how you keep from "stealing" the business from you! Another thing you need NOT to do is have an affair with her, for obvious reasons! By the way, that's the Naked Investor's Oath! Do you remember reading that in your MC Manual??????? I wish you luck! WC Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted May 15, 2008 Pete, I have several people bring me deals. I dare them to even try to do what I do. Don't work from fear about someone trying to do what you do. Scared deals are never found. Now as far as the structure. Each deal has a Joint Venture agreement pertaining on who does what etc. Profits are split based on the agreement after expenses. That is what I do for all of my deals. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 15, 2008 Pete, the bottom line as I see it, is why do you need a partner? You're up and running and established in your locale. What can this woman do for you that will benefit you enough so as to justify the risk of teaching her what you do, how you do it, etc? It'd be one thing if you were hiring a Gal Friday for some office assistance. But letting her into your inner sanctum, so to speak, has more downside than up, as I see it. Then again, maybe I'm just a paranoid freak Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted May 16, 2008 But letting her into your inner sanctum, so to speak, has more downside than up, as I see it. NEVER.....EVER....let a woman in (or around) yourinner sanctum. You'll be walking funny for days. Share this post Link to post Share on other sites
Brian - L.V. 0 Report post Posted May 16, 2008 Pete, the bottom line as I see it, is why do you need a partner? You're up and running and established in your locale. What can this woman do for you that will benefit you enough so as to justify the risk of teaching her what you do, how you do it, etc?That's exactly it! You have to ask yourself how you'll benefit by having a partner vs. going solo. Otherwise you're just giving up half of your profits, making things more complicated, giving up control of your deals, and potentially training a competitor. If that's what you're looking for, I'll gladly be your (remotely located) partner! Plus I'll only take 40% of the deal, so you'd be coming out ahead! I'm just kidding.....unless you're gonna do it. Share this post Link to post Share on other sites
phil43 0 Report post Posted May 16, 2008 Ditto, Pete. I don't see what benefit she would offer you except for cutting into your hard earned profits!! Phil Share this post Link to post Share on other sites
puls1234 0 Report post Posted May 18, 2008 Thanks for your responses everyone. Mike, in answer to your question, I want to bring others on board because eventually I want this to get huge and go regionally and nationally. You need to have good people with you in order to grow b/c there are not enough hours in the day to get things done as it grows. Pete Share this post Link to post Share on other sites
