# General Partnership Questions



## builder98 (Dec 15, 2012)

how should i split profits with a partner that only does the work while i do everything else and the work as well? I'm also spending money up front to buy trailer and tools, he is not. I'm also getting ins, license, am i an idiot? He is a good friend and a great carpenter but i know how to build a house without him no problem. Is this an accident waiting to happen? Do i need to just pay him by the hour and if he doesn't like it he can go do his own thing? all advice is welcome, thanks.


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## Inner10 (Mar 12, 2009)

builder98 said:


> how should i split profits with a partner that only does the work while i do everything else and the work as well? I'm also spending money up front to buy trailer and tools, he is not. I'm also getting ins, license, am i an idiot? He is a good friend and a great carpenter but i know how to build a house without him no problem. Is this an accident waiting to happen? Do i need to just pay him by the hour and if he doesn't like it he can go do his own thing? all advice is welcome, thanks.


RRRRRRRRRUUUUUUUUUUNNNNNNNNN

Or pay him by the hour.


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## jlsconstruction (Apr 26, 2011)

In my past experience it never will work. Someone needs to be in charge. So pay him by the hour or run


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## CarpenterSFO (Dec 12, 2012)

If you're asking the question, it isn't going to work. JLS is right - someone needs to be in charge.


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## griz (Nov 26, 2009)

Dump his arse before he bankrupts you....:whistling

Do Not make him an employee...:no:

It will be a nightmare that won't end...:thumbsup:


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## Jaws (Dec 20, 2010)

Its not equitable. If you partner up it needs to be for a reason, and both need to be equally vested. 

Someone does need to be in charge. Even if both "kill it and eat it" ( find, sell and build), someone has to be the President. You can hash things out, but someone has to be the final say in a draw.


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## Calidecks (Nov 19, 2011)

builder98 said:


> how should i split profits with a partner that only does the work while i do everything else and the work as well? I'm also spending money up front to buy trailer and tools, he is not. I'm also getting ins, license, am i an idiot? He is a good friend and a great carpenter but i know how to build a house without him no problem. Is this an accident waiting to happen? Do i need to just pay him by the hour and if he doesn't like it he can go do his own thing? all advice is welcome, thanks.


Yes


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## ABDemolition (Apr 9, 2012)

Doesn't sound like a partnership to me.


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## Calidecks (Nov 19, 2011)

My father was in a partnership with a good friend for many years, however they both had equally important parts, my father was field superviser that handled all the foremans and checked on jobs and was in charge of scheduling, his partner was office guy, did takeoffs, bidding and the office crap. They even switched off from time to time. But it was understood what thier positions were. It worked out well they stayed civil and remain friends to this day. This however is the exception rather then the rule. Most partnerships don't work. You go in as friends and could end by never talking to each other again, so be real careful with this decision.


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## Jaws (Dec 20, 2010)

Californiadecks said:


> My father was in a partnership with a good friend for many years, however they both had equally important parts, my father was field superviser that handled all the foremans and checked on jobs and was in charge of scheduling, his partner was office guy, did takeoffs, bidding and the office crap. They even switched off from time to time. But it was understood what thier positions were. It worked out well they stayed civil and remain friends to this day. This however this the exception rather then the rule. Most partnerships don't work. You go in as friends and could end by never talking to each other again, so be real careful with this decision.


My partnership with my dad to a T.


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## Jaws (Dec 20, 2010)

But if we are in a deadlock, I lose :laughing::thumbsup:


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## Calidecks (Nov 19, 2011)

Jaws said:


> But if we are in a deadlock, I lose :laughing::thumbsup:


Sounds like you know exactly where you stand. I would give anything to get to work construction with my dad, he retired when I was young. He's 88 now, but as sharp as day one, and one wise old man.


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## CarpenterSFO (Dec 12, 2012)

Either way, good luck with the decision.

- Bob


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## CarpenterSFO (Dec 12, 2012)

Californiadecks said:


> Sounds like you know exactly where you stand. I would give anything to get to work construction with my dad, he retired when I was young. He's 88 now, but as sharp as day one, and one wise old man.


My dad's 88 also. He is and was a great father and a good man and he taught me many things. I love him and respect him, but working with him wasn't much fun.:no:


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## Jaws (Dec 20, 2010)

CarpenterSFO said:


> My dad's 88 also. He is and was a great father and a good man and he taught me many things. I love him and respect him, but working with him wasn't much fun.:no:


It wasnt much fun when I was a kid. The trade was, tbe relentless azz chewing for menial chit wasnt. 

He did a good job though, and working with him and not for him is a blast. Doubt id be as competent if he wasnt a hard azz. He is way more laid back now.


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## CarpenterSFO (Dec 12, 2012)

...


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## plazaman (Apr 17, 2005)

Hire him as an employee, no sense in hiring up as a partner since you are fronting start up capital and running the books as well.


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## Calidecks (Nov 19, 2011)

If SHTF he has nothing to lose. That's not a partnership. Believe me you have to think how he's going to act in times of adversity, and with nothing to lose he will act differently then if his credit and assets were on the line.


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## Jaws (Dec 20, 2010)

Californiadecks said:


> If SHTF he has nothing to lose. That's not a partnership. Believe me you have to think how he's going to act in times of adversity, and with nothing to lose he will act differently then if his credit and assets were on the line.


SHTF?

I agree with your post. 

If you partner up, he should pay you for 50% of what you've invested :thumbsup:


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## TAHomeRepairs (Jun 18, 2012)

SHTF..... Hits the fan


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