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Attorney2020, Attorney
Category: Business Law
Satisfied Customers: 2579
Experience:  I am a practicing attorney. I have experience in business law, bankruptcy, real estate law and estates.
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Hi. I have a friend who wants to to be an investor in a business

Customer Question

I have a friend who wants to to be an investor in a business I have already started (yet I am the beginning sill). I wonder what profit percentage is fair for me and for him.
It is a vacation rental business in new york. We will rent apartments (already furnished) and will sublease them to tourists. I already have a network of clients as well as 2 apartaments that I am currently renting (he didnt invest anything in those 2).
So to rent a furnished apartment we need first month of rent plus a deposit which is also another month of rent. Thr lease wohld be from 3 months to one year.
Sometimes there is also a broker's fee.
He has a partner and wants to invest with his partner so he offered 1/3 of the profit for each one of us (me, him and his partner). I said no then he changed thr offer to 40 % of the profit for me and 60 % for them to split.
Can someone help me?
Submitted: 4 years ago.
Category: Business Law
Expert:  Attorney2020 replied 4 years ago.

I can help. Please specify your question so that I can further assist.

Customer: replied 4 years ago.

Hi there sir. Did you get to read everything I wrote? The question is explicit there.

About what percentage would be fair.

Customer: replied 4 years ago.

Hi sir, I dont know if you were busy or just don't want to continue with this answer. If that is the case please opt out so someone can answer. If you were busy my apologies then and I;ll be waiting for your answer

Customer: replied 4 years ago.
Relist: Inaccurate answer.