Joining a friend from the military, from school, from a friend or someone nice to someone who knew some kind of lecture.
These entrepreneurs started their first venture in a joint real estate deal.
The eyes are on El Al,
Adrenaline and motivation that can move mountains
And one thought that was suppressed
And probably won't go through a processing,
You will not leave their mouths
And disappear in a small place:
What will happen if the project fails and I do not get along with the real estate partner?
Have you thought of them, oh
Pass your head or
Some that didn't come to mind.
This post is intended to inspire thought and make us aware that we as entrepreneurs, investing capital in buying assets,
Renovations, insurance for assets and other expenses (small and large).
But, think less of that day Maybe We'll have to open the drawer.
The day we will have to put out the piece of page where things we thought about were written, which we summarized and agreed upon
What would happen if \ What would happen if \ And what happens now?
Some of the questions that need thinking:
- Will the partnership be incorporated under a joint LLC that will manage all U.S. operations or
Everyone will sign up privately or
Anyone with his or her own LLC (each of the LLCs will be exposed to claims if additional projects are registered on it and hence the new property listed on a shared LLC will also be exposed)
- What is the division of labor between partners
- What is the Partner Distribution Model?
- What happens if, after the investment, you need to invest an additional amount in the project?
- Does the entrepreneur and investor pay the missing amount?
- Do you bring in an outside investor (as a loan or as a percentage of the company)
- Is the outside investor a voting right or just a profit?
- What happens when one of the partners wants to leave?
- Can he bring someone in his place to get in his shoes (does anyone have a limitation or a committee to accept the partner)?
- Can the person coming in make decisions on behalf of the company or just be a money partner?
- Is there a prerogative for a partner who is left to purchase the part? If so, how soon is he obliged to answer?
- How is the value of the proportion determined? Is there a mechanism for this?
- Are you looking at potential profits or just the amount invested
- Is there a certain period for a partnership?
- Are there any previous assets or previous partnerships and whether to include them in the agreement (working hours, conduct, relationships etc.)
- Decision-making mechanism, is the signature of both parties required for a particular action?
- For what exactly?
- Can one partner charge another partner with each signature?
- If not, on what issues can he charge him?
- On what issues does he not owe him?
- Working rules when partners separate (customers, area of operation, contacts, etc.)
- Jurisdiction? In Israel or the United States?
- What is the decision-making mechanism when there is disagreement?
- What is the mechanism for taking responsibility for third parties?
- If there are more than two partners (let's say 3) what decision-making mechanism will apply (when there is a spouse and friend or two close friends)?
- What are the safest types?
- How do I maintain myself?
- How does the investor maintain himself?
- What happens if the property is not sold while I was assigned to a project?
- What happens if there are additional expenses for the project? Who will pay them? What happens if the investor does not have the money to complete it, how do I proceed?
- Can I, as an investor, receive a guarantee of any profit? Does profit depend on something?
- How can I, as an investor, get out of the deal?
- Can I get out of the deal?
- If there is disagreement, where will they go? In which country?
- By what law?
- Can the entrepreneur bring someone in his place?