Equity partner

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Posted by Maggie on October 20, 2008 at 16:35:34:
My husband and I saw a brand new house in California for $1 million and we like to ask the developer (a one man development compnay) to be our equity partner. He said to submit a proposal and he will look at it.
We like for him to take a 50% equity position, another words, we own 50% ($500K) and he owns 50% ($500K), however, I like some feedback as to if this would be realistic?
We have never done equity share agreements before and I was wondering if anyone would offer any advice as to the terms of the proposal?

Follow Ups:

Re: Equity partner or OPTION Michael Morrongiello 07:17:15 10/22/08 (2)

Re: Equity partner or OPTION Mag 08:04:11 10/22/08 (1)

Re: Equity partner or OPTION Michael Morrongiello 13:02:18 10/22/08 (0)

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