Hi All,
Could someone tell me where I can obtain more info on setting up a business partnership the same as Steve and Dave. I have my own portfolio already and some wraps but I want to form a partnership with a friend. We will create two new entities one for trading one for holding, though I’m unsure how you draw up a fair business agreement, basically is there a model I can copy? (Don’t give me the map, take me to the mine!)
Thanks.
Regards- TOBYToby
If you don’t want a map, go and see your solicitor.
LeighK[
]Carve your own path and lead the way …
Thanks Leighk,
I have my solicitors opinion, however I don’t know if it is the same way that Steve and Dave have run it- obviuosly what they have done works, where many partnerships don’t- one of the reasons being their structure.
Experience has taught me to model what other successful people have done and repeat it. If thats wrong then Bob Allen has to be one of the most successful dumbest real estate entreprenuers on the planet (I think not!)
Regards-TobyToby,
The secret in partnerships is not the words on the paper but the people involved. I’ve been in partnerships and advised people on partnerships over the years.
Partnerships have a better chance of working if partners respect each other, have common value systems. Complementary skills are often valuable. Look at some scenarios:
eg what if you bring what you think is a great deal along and your partner has doubts, if you don’t proceed will you resent that.
eg if you work hard and your partner doesn’t or vice versa there will be friction.
I’ve been in some great partnerships and I’ve seen some lousy ones.
I’ve read Steve’s book and it’s clear that the chemistry between Steve and Dave works.Toby,
The secret in partnerships is not the words on the paper but the people involved. I’ve been in partnerships and advised people on partnerships over the years.
Partnerships have a better chance of working if partners respect each other, have common value systems. Complementary skills are often valuable. Look at some scenarios:
eg what if you bring what you think is a great deal along and your partner has doubts, if you don’t proceed will you resent that.
eg if you work hard and your partner doesn’t or vice versa there will be friction.
I’ve been in some great partnerships and I’ve seen some lousy ones.
I’ve read Steve’s book and it’s clear that the chemistry between Steve and Dave works.Thanks CRJ,
I know what your saying and that’s not an issue. I’ve been investing for some time and have only recently taken on a money partner.
The reason I made the inital post was I’ve talked to alot of people about partnerships and JVA, and we know what we want to achieve, it made sense to me to see if someone knew how exactly the agreement between Steve and Dave was drawn up.
Everybody wants the best success, and I’m no different so I figured if it’s has worked for them why don’t I model it.
There’s no need to recreate the wheel- is there?
Thanks- Toby
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
