Opinion on co-ownership

[WingedWolfPsion]

IF you have everything in writing, I think it could work, but what you would want to do is split the first clutch in such a fashion that he gets half the profit AND gets back his share of the investment, and then YOU own the snake in full. That makes his share an investment rather than partial ownership of the snake, per se. If it works, you can both do the same thing again and get HIM a snake. But put it ALL in writing, and have backup plans in case she doesn't lay or something else goes wrong.

[pavlovk1025]

Sounds like a bad idea in the making. Everyone already said the important stuff, Im just here to voice an opinion.

[nixer]

never mix business with pleasure
also never loan money to family or friends unless your willing to not be paid back

[rabernet]

The mistake friends make is to do a verbal agreement.

Couldn't agree more. Which is precisely why I always stress in a breeder loan situation, that it's important to have a written contract that clearly details everything - ESPECIALLY when doing a loan with a friend.

A well-written, signed contract removes any mis-understandings and hurt feelings and protects your friendship.

[Beardedragon]

never mix business with pleasure
also never loan money to family or friends unless your willing to not be paid back

Im going to 2nd, 3rd AND 4th this.

[Fearless]

I am going to tell my story on how this has worked for me with a situation similar that im in.

Had a buddy outright buy snake, charged him a little more than the deal I actually got just for the fact that half of the price I got the animal from was because I have spent several thousand dollars with him in a year (like receive one snake and drop him a check in the mail to down pay on something I hadn't decided on yet) well the whole plan was he would take the snake, buy his food from me and at breeding season, I would then take the snake back and breed it and upon babies being hatched we would split the babies, keep what we wanted and sell the remaining, splitting everything down the middle. Well six months into it, I have fed the snake, taken care of the snake and still haven't came to an agreement on which one of my animals to breed her to, not the best deal in the world but getting into an arguement of what we could/should do isn't worth the hassle.

Contracts are definately a great idea, but the very least prepare yourself to lose in the whole situation.

Just my thoughts on the whole deal.

[Wh00h0069]

I am co-owner of my business. It works great for me and my business partner. We split all cost, cleaning, and profit right down the middle.

[euphuistical]

I have a similar thing going on with my parents. I am a student, had some bad personal issues, took care of them and once I refound my love of snakes have been absolutely awesome in backing my breeding plans. My parents are kinda on the wealthy side, but for example I needed a new rack and they were generous enough to front me the money to pay for a ARS 7030 which I am loving by the way. They have also paid for a lot of my snakes, and I plan to pay them back in full for the rack (it ended up being 2400 shipped, I've paid down 1k so far, and I am getting a job at school so that should be done in a few months). I am also going to give them a cut of what I sell from my first batch of hatchlings if I am lucky and good enough to breed and incubate them properly. I've been devouring tons and tons of info on all sorts of husbandry and breeding and incubating issues so I hope I get some success this season.

But yeah, except for the rack I have a more informal agreement with my parents. They were just happy that I finally found something I was passionate about, it helped get me out of my funk and I am back on track taking classes to get in to nursing school
(I already got a damn BA, but I am only going to need one year of classes before I can apply to actual nursing school; and I also had two years of law school before I dropped out [my god did I hate law school] and a nice chunk of student loan debt from the latter heh).


But I think the best thing in your situation would be to just front him the money for the snake. Partial ownership of a living creature (and hell, a lot of non-living things as well) can be the cause of some bad blood which you don't want to risk with a friend. So help him as much as you can, talk his ear off with what you know, but keep your resources separate. But say a breeding loan or stud service may be a better thing for you guys down the road. Thats much less likely to backfire.