Investing in Fixer-Uppers, Revised Edition by Jay P. DeCima

Author:Jay P. DeCima
Language: eng
Format: epub
Publisher: McGraw Hill LLC
Published: 2024-11-15T00:00:00+00:00

Benefits Must Be Totally Equal for All

The biggest problem I’ve observed about small investment partnerships is that they’re almost always engineered or thought up by the person who doesn’t have any money. This person has all sorts of wonderful ideas, but in order to make them work, he or she must find someone with money. The typical arrangement is where one partner is asked to put up hard cash and the other is supposed to contribute an equivalent share of personal services.

I don’t know how you think, but I’m very skeptical about anyone who proposes a joint plan that uses my money and risks only his or her personal services. The question I ask is aimed directly at the heart of the issue: “If your ideas are so good, then why is it I’ve got the money and you don’t?” There may be several good answers—which I consider reasonable and acceptable—but unless the question gets answered to my satisfaction, I will not consider going forward. If you ask that question and the answer doesn’t satisfy you, then you shouldn’t go forward either.

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