Quote:
Originally Posted by onewhippedpuppy
Rob, sounds like it's time to cut ties from a business sense. Your friend has become a business associate who is now only looking out for his own best interests. Not only a business associate, but a poor business associate. You should sit down with your friend, define how you will sort out the remainder of the mess (on paper), then cease to do business with him. Buy him a beer, tell him that you value his friendship more than money. If he can't get past that then he's not the friend you thought he was. Sometimes money does funny things to people, and rarely are they good.
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Hey Matt,
This is now my new challenge.
How do I go about desolving the JV?
We've pretty much gotten the past business resolved; He's pulling up his socks now too and performing alot better.
But I think I want to end it.
I'm thinking he thinks we're all gonna chock it up to "learn from our mistakes" and move forward. He tried to discuss some of the future with me the previous evening and I told him I wasn't prepared to discuss it at this time. It was like telling your high school GF that you're busy tonight. Gosh, it's hard.
I'm pretty sure he wants to go forward, but under a new agreement?
I'm thinking this one through carefully, I don't want to make any mistakes this time?
I invited him out tonight with our wives, but he declined. I thought if we could get out as friends I could highlite that the friendship was the most important thing to me; the business should be set aside to salvage the friendship.
This is my new challenge?
I'm about 99% content with just paying him out his fees on the past contracts, at my loss and no loss to his fees. (We're talking six digits guys).
OK, I can get over that, I've had 7 digit losses in the past, I can get over that easily enough.
So now to move on.......
What do I do?
I've got 12 more homes to build; probably 6 this year and 6 next.