So I’ve been in business with my old active duty Army buddy in real estate since early 2018. We’ve managed to close 4 deals in 2019. Covid has hurt our business a lot, we’ve only closed one this year.

We split whatever income we earn from a house for example 100k home. We split 45 down the middle. And we take 25% of our half and pocket it, and the remaining 25% goes into a joint account that helps us Purchase other properties.

Question is. Someone said it was a bad idea, because at anytime he could wipe that joint account clean and take all the money. So instead of having it all in a joint account, we should just separate the half and place the money into our own individual accounts. That way, he can’t steal money or nether can I, need Opinions please.