Quote:
Originally Posted by Davidstinator
Good luck with the sale... Nothing worse than when a p'ship splits.... except perhaps divorce... but the result is the same.
You'll be "FREE" to do what you want and need to do in the biz, without a PITA partner dragging you down, diverting your attention.
Good luck!
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Thanks BRO.
Yeah, he was not from this industry, nor has any internet experience. He was more a less a money guy. He has a lot of other investments in rentals, car wash, and so on. He had retired from Pfizer a few years back.
Anyways, after his accident last year he damaged a lot of the marina and people's yachts (lawsuit). On top of that, when the housing market was good, he took out all of the equity in his 30+ rentals. Now they are back to worth what they should have been $50-70 instead of the $125k. So he is swimming in debt. He is also trying to sell his half mil house on the lake. For him, he simply wants to get money from, and liquidate whatever he can that is the easiest to get some money, for all his b.s..
I figured it would come this year sometime, so I was ready. But, he wants a lot more out then put in, and while I wanted to just close stuff (because of the market), split the content library, and sign the papers. He wants to nickel and dime every last cent out of the partnership. So I told him I would have to sell some of it at a fire sale. He doesn't care. Hence the thread.