You may want to consider the purchase of high dollar, long remaining term PN. These aren’t the typical Note School niche. Have your Passive investors lined up (funds already with the escrow agent). Double close where you buy the whole note (preferably in a ROTH) and immediately have the partial buyer fund most of the deal. Then hope for or encourage the homeowner to refinance. Or they may sell before the term expiration. Then repeat with your recaptured funds.
I’m not sure of your operating agreement. However why would you “settle” for that split? Maybe … if he puts ALL the money in your 60% would seem fair. Have you undervalued your time, expertise and educational investment? Let him know that he is Passive. Those investment return are always less than that of Active investors.
