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Ashley:
Actually, I think that I have as, I don’t think that I would do this, but I’m pretty sure that I have talked to people that instead of wanting part of the cashflow, they want part of the equity in the property and it’s a way to get them started in real estate investing. You see this in business models where someone goes and works for a company and they say, instead of taking X amount of salary, I’ll take a little bit less, but I also want some profit share or equity in the company too. So I don’t think this is uncommon. The reason that I would not do this as the property owner is because I wouldn’t want to tie myself to someone. And I think it gets more complicated if they don’t perform or don’t do a good job to actually separate from them. So first step is talking to an attorney to see what you would need to set the structure up and what would happen when you decided to part ways and to separate from each other. The thing that I would not want to happen is Tony comes on as my manager. I give him some equity, he does a horrible job. I tell him he’s done, but yet he still owns 10% of my property until the day that I sell it.
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